Bengaluru-based micro-lending platform SmartCoin has secured $7 million in a fresh funding round led by LGT Lightstone Aspada. The company would be deploying the funds to further grow its loan book to Rs 1,500 crore along with doubling its user base to 10 million over the next year.
Incorporated in 2016 by Garg, Amit Chandel, Vinay Kumar Singh, and Jayant Upadhyay, SmartCoin provides loans to mobile users through credit scores by using data science and machine learning algorithms. (Source)
Aarzoo is an author at Entrackr who tries to bring in an unbiased perspective while writing about the budding Indian startup ecosystem. Along the way, she also analyses the companies, their numbers, and compiles them. A graduate in Economics from Lady Shri Ram College for women, a will to explore the emerging businesses drives her the most. Connect with her at [email protected].
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