Credable, a Digital Banking Infra Startup that wants to Build Unit For Emerging Markets, gets Funding
A $2.5 million seed round has been raised by Credable, a newcomer in this field that offers its clients the technological stack, scoring capabilities, and banking partners.
Rapyd, and Treasury Prime are examples of fintechs that provide banking as a service in the U.S. and Europe. These companies have grown significantly as a result of the advanced financial infrastructures in those regions.
With all of its partners, the two-year-old fintech uses a revenue-sharing arrangement to “keep them committed and establish some fair playing field.”
With this strategy, Credable also intends to combat one financial malpractice: predatory microlending, which frequently entails applying unjust and misleading loan terms to final borrowers.
The fintech startup thinks that by using a revenue-sharing approach rather than the more traditional cost-per-service one, it can assist reduce rates as much as possible.