PowerCred
Overview
PowerCred is a technology company specializing in data solutions for identity verification, credit assessment, and fraud prevention, primarily catering to the financial services sector. Founded in 2021 by Kunal Goel and Ritika Vijay, PowerCred is based in Singapore and has successfully raised $2 million in funding. The company works by providing financial institutions with real-time connectivity and a comprehensive suite of APIs to better assess and manage their lending processes.
Recent Developments
- November 2025: PowerCred has raised $1.1 million in pre-series A funding led by TNB Aura to expand its operations in Southeast Asia and enhance product offerings with small language models for enterprise use in sectors like insurance and healthcare.
- 2025: PowerCred ranked 60th among 543 active companies in its segment, reflecting the competitive landscape of the industry.
- 2024: A new partnership with CredAble aims to enhance working capital financing technology for banks in Indonesia, leveraging PowerCred's knowledge of local financial services and global scalability.
- 2024: PowerCred showcased its lending infrastructure solutions at the World Financial Innovation Series in Jakarta, focusing on new-age challenges in financial inclusion.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | Singapore |
| Founders | Kunal Goel, Ritika Vijay |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Forge Ventures, Rally Cap VC, Taurus Ventures, TNB Aura, XA Network |
| Industry | Business/Productivity Software, Financial Technology |
| Number of Employees | 27 |
Early History
PowerCred was established in 2021 in Singapore, with a vision of transforming the lending landscape by offering innovative data solutions. Founders Kunal Goel and Ritika Vijay identified the challenges faced by financial institutions, particularly related to identity verification and risk assessment. They built a platform integrating data sources with advanced algorithms, allowing lenders to automate and enhance customer onboarding, document validation, and risk profiling. Initially operating with a small team, PowerCred quickly emphasized a strategy of leveraging alternative data to gain comprehensive insights into credit assessment and fraud detection.
Company Profile and Achievements
PowerCred has positioned itself as a transformative force in the financial technology industry by focusing on digital lending infrastructure and intelligence. The company provides a seamless API suite which allows financial institutions to harness alternate data for better decision-making processes.
- Business Model: PowerCred uses a SaaS model to deliver powerful APIs that integrate into existing lending workflows, helping to streamline processes like onboarding, underwriting, and collections.
- Achievements:
- Developed and launched enterprise-grade small language models to assist with eKYC onboarding.
- Accredited with ISO 27001:2022 certification for maintaining high standards in data security.
- Engaged in a series of strategic partnerships to expand its technological influence, including collaborations that enhance working capital financing frameworks in Asia.
- Growth Strategy: Investment in AI-driven solutions and regional expansion remain ongoing strategies to boost growth and market share.
Current Operations and Market Position
PowerCred is active in creating robust digital lending solutions that resolve modern financial challenges. It seeks to empower lending institutions by offering scalable, reliable platforms that enhance their product offerings and operational efficiencies. With emerging economies as a significant focus, PowerCred integrates localized compliance technologies into its services, gaining an advantage in markets such as Southeast Asia. The company continues to explore opportunities in various industries, including logistics and healthcare, capitalizing on its advanced data processing capabilities.
Conclusion
PowerCred stands as a significant player in the fintech ecosystem, recognized for its innovative and practical data solutions. As it continues to develop its AI technologies and expand into new sectors and regions, PowerCred's trajectory points toward becoming an influential entity in digital financial infrastructure. Through strategic investments and partnerships, it is well-poised for further impact, aiming to redefine lending processes globally.