GoodScore raises $13 Mn in Series A round led by Peak XV

GoodScore, a Bengaluru-based fintech startup, has raised $13 million in Series A funding led by Peak XV Partners, with participation from Stellaris Venture Partners and Saison Capital. 

Entrackr had exclusively reported on GoodScore’s Series A round in March this year. 

The proceeds will be used to expand its AI systems, add product and engineering talent, and grow its credit marketplace that connects borrowers and lenders. GoodScore also aims to enhance its user base in tier II and tier III cities.

Founded in 2023 by Sanchit Bansal, GoodScore helps users track and manage their credit health using data and AI-driven tools. It provides a single platform that connects credit bureau data, bank transactions, and spending records to help users monitor their credit scores, manage payments, and understand their borrowing patterns. The platform also offers score improvement guidance and dispute support.

Since launch, GoodScore claims to have recorded millions of users across India. It partners with HDFC Bank, KreditBee, and Tata Capital to provide credit-related services. 

The company began monetizing its operations in FY24 and its operating revenue surged to Rs 2.5 crore from almost nil in FY23. However, the firm’s losses also expanded significantly, increasing 7.7 times to Rs 7 crore in FY24.