The startup offers a mobile financial application that provides asset-based microloans to unbanked individuals and small businesses using artificial intelligence for data-driven credit assessments. By enabling users to secure loans quickly and at fair prices, the application addresses the lack of accessible financial services for underserved populations.
Funding
$900K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals and small businesses in Pakistan lack access to traditional banking services and struggle to obtain financing due to limited credit history and collateral. This restricts their ability to acquire essential assets like motorcycles, hindering economic advancement.
Solution
CreditPer provides a mobile application that facilitates asset-based microloans, specifically for purchasing motorcycles, to unbanked individuals in Pakistan. The platform allows users to apply for financing and repay in installments. CreditPer assesses creditworthiness using alternative data sources and AI-driven algorithms, enabling them to offer loans to underserved populations who may not qualify for traditional bank loans. By providing access to financing for essential transportation, CreditPer aims to empower individuals and small businesses, fostering economic growth and financial inclusion.
Target Audience
The primary target audience is unbanked and underbanked individuals and small businesses in Pakistan seeking financing for motorcycle purchases.
Features
- Mobile application for loan application and management
- Financing for motorcycle purchases with installment payment options
- AI-powered credit assessment using alternative data sources
- Integration with Easy Paisa for convenient payment processing
- Partnerships with motorcycle vendors to facilitate asset acquisition