Fintech startup Credilio raises USD 4 mn

Credilio, a startup focused on digital distribution value chain of personal finance products, has raised USD 4 million or around Rs 30 crore in pre-series-A round from a clutch of investors, including Cornerstone Venture Partners, Exfinity Venture Partners and Param Capital founder Mukul Agarwal in his personal capacity.

The startup began as a brainchild of second-time entrepreneurial trio Aditya Gupta, Sandeep Ghule and Anand Kapadia, said the fund will be used to strengthen its product penetration by enhancing technology capabilities and harnessing the potential of evolving API stacks of banks/NBFCs. Credilio helps advisors educate customers and recommend products that are best suited to meet their personal credit requirements, and also facilitate digital onboarding of credit cards and loans.

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Within a year of launch, Credilio has over 10,000 active financial advisors and over 5 lakh customer applications processed. It claims to work with over 20 banks and NBFCs such as HDFC Bank, ICICI Bank, Axis Bank, IDFC First Bank, SBI Cards, Citibank, Standard Chartered, Bajaj Finance, Tata Capital and others.