CredRight Raises $1.3 Mn Pre-Series A Funding From YourNest And Accion

Accion Venture Lab and YourNest along with a few other prominent angels have jointly invested $1.3 Mn (INR 9 Cr) in the Hyderabad-based fintech startup CredRight.

Founded in 2016, CredRight is a data-driven lending platform that provides credit to unserved and underserved micro, small and medium enterprises (MSMEs). It partners with chit funds – which are similar to Rotating Savings and Credit Association (ROSCAs) in the United States but use a reverse auction to distribute pooled funds – across India to acquire customers and use previously untapped chit data, along with other data points, to underwrite a loan for a customer.

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