(L-R) SkorLife Co-Founders Ongki Kurniawan and Karan Khetan
SkorLife, a fintech company allowing users to access their credit scores and reports instantly from Indonesia’s credit bureaus, has secured US$4 million in a seed funding round led by global tech investor Hummingbird Ventures with participation from QED Investors.
Existing investors AC Ventures and Saison Capital also joined.
SkorLife will use the fresh funds to develop products, build brand awareness, expand the team, and accelerate growth. “With the funds we’ve raised, SkorLife is poised to accelerate its mission of promoting responsible borrowing and fair credit practices in Indonesia. We are dedicated to driving financial literacy amongst individuals and communities,” said Karan Khetan, Co-Founder and President.
Also Read: Qatar sovereign fund joins the US$250M Series D round of Builder.ai
Indonesians’ lack of access to fair credit can be attributed to the mass market’s limited knowledge of how credit works and how to become responsible borrowers. SkorLife believes that when locals understand their credit profiles, they will try to obtain the knowledge and skills needed to improve their creditworthiness and financial reputation. This, in turn, grants them access to fairer credit opportunities, benefiting society in the long run.
This is what SkorLife does. It is a credit builder that allows users to access their credit scores and reports instantly. It also provides personalised advice and tips for users to get exceptional scores and access better credit.
In September 2022, the startup raised US$2.2 million in pre-seed funding and claims to have amassed 100,000 downloads since its public launch around the same time.
Since its launch, Skorlife has been accepted into Indonesia’s Financial Services Authority’s (OJK) regulatory sandbox and has obtained ISO 27001 and ISO 27701 certifications.
—
Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the platform, and other prizes. Join TOP100 here.
The post SkorLife secures US$4M to allow Indonesians access their credit scores, reports instantly appeared first on e27.