Aditya Hadi Pratama · · 1 min readAccel backs $3m round of SG credit scoring firm
Finbots, a Singapore-based fintech firm, has raised US$3 million in its series A round from Accel through the VC firm’s Fund VII. It is the first external investment that the startup has raised since its establishment.
Finbots founder Sanjay Uppal / Photo credit: Finbots
Founded by Sanjay Uppal and Shripad Keni in 2017, Finbots’ main offering is a credit scorecard system called ZScore. The platform helps banks and financial institutions process loan applications more efficiently and accurately.
The company currently has offices in Singapore, India, and the United Arab Emirates.
Finbots plans to use the fresh funds to accelerate product development and bolster its customer support, marketing, and sales capabilities. It also aims to grow its workforce to 50 people by the end of this year and expand its service to other countries in Asia.
See also: Series SEA: Who’s investing in the region’s fintech startups?
Editing by Miguel Cordon and Lorenzo Kyle Subido
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