Based in Japan and India. Has led to 1 successful fundraise in Japan. Been working the space of Venture Capital and Private Equity for the last 3 years.

Bloom Credit, a financial wellness platform that helps consumers and lenders build a healthy credit relationship, announced today that it has raised a total of $3. Seed investment of 87 million Resolute Ventures led the latest investment with the participation of Kindred Ventures and Slow Ventures.

The special advisers to Bloom Credit include fintech luminaires such as Mark Goines, Vice Chairman of Personal Capital, Matt Burton, Founder of Orchard, Eli Broverman, Founder of Betterment, and Shivani Siroya, Founder of Tala. Founded in 2017, Bloom Credit graduated from the 500 Startups Batch 20 acceleration programme. 500 Startups have also invested in the company through its FinTech Fund.

Bloom Credit enables financial institutions to foster relationships with consumers who have applied for loans but have been denied on the basis of the lender’s origination standards. Bloom Credit works with the rejected applicant and provides actionable credit-building insights to strengthen their credit health and financial readiness for the loan they originally requested; the applicant may also receive new loan offers and product recommendations. Platform applicants typically become serviceable within one to six months and increase their credit scores by 17. On average, 3 points

“We believe that all consumers are inherently creditworthy, but they may simply need help to earn the credit they need and deserve. And while lenders have the capacity to lend, we also recognize that they receive too many non-qualified applicants and simply have to say ‘no’ or price at rates that do not make sense for the customer,” said Matt Harris, co-founder and CEO of Bloom Credit. “With Bloom Credit, we see the opportunity for a new start. We’re working on changing what can be a very negative borrower-lender experience and building a healthy relationship dynamic right from the start. “That’s right.

“Bloom Credit’s application of deep data science to the credit rating process is unlocking a massive but neglected market for lenders while helping consumers to obtain credit that they actually deserve. We were thrilled by the combination of team, technology and a demonstrated market opportunity,” said Mike Hirshland, co-founder of Resolute Ventures, who led the investment.

Bloom Credit Platform integrates traditional credit bureau data and alternative data sets to evaluate consumer credit history and forward-looking financial objectives. By means of AI, machine learning algorithms, human intervention and digital user experience, Bloom Credit provides a turn-by-turn approach for consumers to take action to improve their credit health before seeking new credit eligibility.

“To have access to good credit is the key to so much in our world, from basic transport to secure housing, and more. This is something many of us take for granted While others are being wrongly locked out Inclusion will be a key component of next generation financial services,” said Sheel Mohnot, Partner, 500 Startups, Fintech Fund. “We’re very excited to back Bloom Credit as they fit into our Fund thesis ‘Financial Services for the rest of us’ ‘Data science and analytics will help more consumers to fully participate in the best of the credit market, and will also help financial providers to achieve this goal. “That’s right.

Bloom Credit licensees its software-as-a-service via API to financial institutions and their partners to enable them to directly foster customer relationships. The company receives fees from lenders for successful graduations and product recommendations that create new lending relationships. Bloom Credit is currently working with both the originators of loans and their partners, and directly with consumers.

“We are honored to partner with some of the country’s best investors and financial and fintech luminaries to help consumers and lenders build healthier credit relationships than the status quo. With this funding round, we will strengthen our products, reach and help more consumers, and advance our programmatic customer nurture engine for lenders,” added Harris.

About Bloom Credits

Bloom Credit is a financial wellness platform that helps consumers and lenders to nurture and develop healthy credit relationships. By means of an in-depth credit analysis, AI, machine learning and human intervention, Bloom Credit provides a digital roadmap that helps consumers build their financial capacity and become serviceable for the loans they want, typically within one to six months. The company also works with the lenders originators and their partners to provide support programs and credit-building product recommendations for declined lenders. Resolute Ventures led the company’s most recent seed investment round with the participation of Kindred Ventures and Slow Ventures. Earlier investors include 500 start-ups through their Fintech Fund and a number of leading financial firms and fintech luminaires. Bloom Credit graduated from the 500 Startups Batch 20 accelerator program in 2017. Please visit www for more information. Blossom-cred It’s it

Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Bloom%20Credit/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co

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