Credit Bank, a fast-growing fintech that provides loans to individuals without traditional credit scores, has successfully raised $15 million in its latest funding round. The investment reflects growing interest in alternative lending models that aim to serve the underbanked population.
According to company representatives, the funds will be used to strengthen the bank’s digital platform, expand its reach into new markets, and enhance its risk assessment algorithms. Unlike traditional lenders, Credit Bank relies on alternative data such as income history, bill payments, and digital transactions to evaluate borrowers.
Industry experts note that this approach can unlock access to credit for millions who are typically excluded from the financial system. By combining technology with innovative scoring methods, Credit Bank positions itself at the forefront of financial inclusion.
The successful raise also demonstrates investor confidence in the company’s mission and its ability to scale sustainably in a competitive fintech landscape.