CrediLinq raises US$2.6M to enable one-click checkouts for Asian SMEs

Singapore-based credit underwriting startup CrediLinq has secured US$2.6 million in a financing round co-led by 1982 Ventures and White Venture Capital.

500 Global, Sequoia Sprouts, Arkana Ventures, GK Plug and Play Indonesia, Sketchnote Partners, Boleh Ventures and EPIC Angels also joined.

The startup will use the new funding to accelerate product development, enter new markets, and expand its team to support its growing client base.

Established in 2021, CrediLinq uses artificial intelligence, machine learning, and data-driven credit models to generate the credit scores of small and medium enterprises (SMEs). CrediLinq provides embedded fintech solutions that enable one-click checkouts for B2B marketplaces, corporates and fintech companies.

CrediLinq offers two embedded fintech products — B2B PayLater and GMV Financing.

Also Read: 1982 Ventures closes debut US$20M seed-stage fintech fund

B2B PayLater allows buyers to perform one-click online payments to suppliers. The buyer gains access to credit terms to purchase supplies and inventory, while the seller receives payments immediately. This solution is embedded in their customers’ e-commerce platform with application programming interfaces allowing real-time credit health monitoring.

GMV Financing, on the other hand, allows sellers to offer credit to their B2B customers. The optimal financing amount is automatically determined using CrediLinq’s proprietary technology, which analyses transactions, credit history, and other alternative data sources. By enhancing risk models and making decisions more consistently, CrediLinq’s customers can also reduce the risk of non-performing loans (NPLs) by 10 to 25 per cent.

Deep Singh, Founder of CrediLinq, said: “As consumers, we no longer view digital payment capabilities as a “nice to have” — we now expect it at the checkout page of every online store. This experience is not common for B2B e-commerce, especially when it comes to extending payment terms and financing.”

“B2B PayLater for buyers and GMV Financing for sellers is how we’re helping companies bridge this online experience gap and delight their customers with a fast and frictionless e-commerce experience. The future of B2B payments and purchasing will be just like the current consumer experience, and CrediLinq is providing the core technology to accelerate this shift,” he added.

Scott Krivokopich, Co-Founder and Managing Partner of 1982 Ventures, commented: “Every business owner knows that the B2B purchasing experience still lags behind the innovation in B2C payments. As online B2B payments grow, the ability of a company to provide a seamless credit and payment experience at checkout determines its long-term success.”

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