International technology-based company Kreditech, which seeks to use online information to predict the creditworthiness of consumers, has announced $7 million in funding, VentureBeat reported on September 13.
Kreditech’s business model is currently focused on using online, SMS and Facebook data to issue microloans. The media outlet notes that it is currently building databases, one country at a time, to see how different consumers pay back loans.
The capital was provided by Kreos Capital. For more on the company’s business model and past accolades, click here.
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