Aire raises $11M Series B to give credit scoring an ‘upgrade’

Feb 4, 2019 · techcrunch.com

2e59bc97 d82e 4452 8137 8ab3b18850ea

Aire, the U.K. startup that wants to give the credit scoring system a 21st-century "upgrade," has raised $11 million in Series B funding. The round is backed by European enterprise VC Crane Venture Partners, with strategic investments from Experian Ventures and Orange Digital Ventures.

Existing investors WhiteStar Capital and Sunstone Capital also followed on, while the company says it will use the additional capital to support "rapid growth," including U.S. expansion. Aire also plans to further invest in the technology powering its credit insights engine, which aims to make credit checking fairer for consumers who may have a thin credit file, and therefore more valuable to lenders.

"How does a new borrower bypass the catch-22 problem of credit where it takes a while to get a history, but you need credit to start a history…," says Aire co-founder and CEO Aneesh Varma, when asked the describe the problem the startup set out to solve.

Read Complete Article

RT @swiftscaleco: Great to see the Tech for Social impact sector growing so quickly in the UK with 490 startups raising over £1B in VC fund…

I am deeply frustrated about the delay to Crossrail. @TfL & @transportgovuk will continue to hold new leadership to… https://t.co/sKpGomO1YB

Challenge your #AI skills and show how they can change the world of business at the #HackXLR8 hackathon during #LTW… https://t.co/E1TFJ3EI9N

Intel narrowly beats Q1 targets, chops full year guidance https://t.co/s9WABDuVME https://t.co/rLY400rZKE

Everything about this production still looks to be stumbling towards the brink of an abyss. What's really going on… https://t.co/ABEHUcGQPn