Kirov Group Ventures has invested in fintech startup Ivitech in exchange for a 4.1% stake in the company. This was reported to RB.RU by a representative of the fund. The amount of the transaction and the valuation of the start-up were not disclosed.
Ivitech is the developer of a scoring model that predicts the creditworthiness and potential risk of default of companies. The model is based on alternative data sources: ride-sharing platforms, marketplaces, and others.
The product is relevant to small and medium-sized enterprises (SMEs) – it is noted that 65 million companies in this segment lose $5.2 trillion annually to development. This figure represents 41% of the global SME segment.
The greatest difficulties, according to Ivitech, are experienced by industries that do not lend themselves to the risk assessment of classical banking: taxis, agribusiness, trunk logistics, market vendors and others.
Investments from Kirov Group Ventures will be used to grow Ivitech’s product line, develop a personal account and create a unique interface. This should improve the user experience and make communication with customers easier.
It should be noted that the additional financing will also expand the possibilities of the service for companies in the field of trunk logistics.
The founder of Ivitech is Artem Moskalev and Oleg Perevispa. The company is registered in Singapore.
Author:
anastasia mariana
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
