Provides a loan servicing platform that streamlines repayment processes for borrowers and lenders through features like customizable payment schedules, autopay setup, and real-time reporting APIs. It improves borrower engagement and financial management while offering lenders actionable insights and the flexibility to service diverse asset classes.
Funding
$17M 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 loan borrowers struggle to understand and manage their repayment schedules, leading to confusion and potential financial setbacks. Lenders often lack real-time insights into loan performance and the flexibility to service diverse loan types efficiently.
Solution
Scratch provides a comprehensive loan servicing platform designed to streamline repayment processes for both borrowers and lenders. For borrowers, Scratch offers tools to easily manage loans, make payments, set up autopay, change due dates, and track loan progress. Borrowers can also access resources to better understand their debt and connect with loan guides for personalized support. For lenders, Scratch delivers daily reporting through SFTP or a reporting API, providing accurate insights to inform business decisions. The platform is designed to accommodate any asset class or feature, enabling lenders to quickly innovate and expand their portfolios.
Target Audience
Scratch targets both loan borrowers seeking a user-friendly repayment experience and lenders aiming to streamline loan servicing and gain actionable insights.
Features
- Customizable payment schedules to accommodate individual borrower needs
- Autopay setup for automated and timely loan payments
- Real-time reporting API for lenders to monitor loan performance
- Borrower portal for managing loans, tracking progress, and accessing support
- SFTP integration for secure and efficient data transfer
- Support for diverse asset classes, enabling portfolio expansion