CreditVidya raises $5 million

Financial technology company CreditVidya has raised $5 million, led by Matrix Partners India. The round also saw participation from existing investor Kalaari Capital, who led its previous round in 2016. It will use the fresh funding to add a wide range of fraud and verification services to its existing big data underwriting platform. The funds will also be used to further improve artificial intelligence-based algorithms that use over 10,000 data points for risk assessment.