Wiserfunding enters Indian market, to provide lending solutions for SMEs

The investment will also be towards creating technology to connect to various public and private databases to source all inputs to fully automate its models as it already does in Europe

The UK-based fintech firm Wiserfunding on Tuesday said it has entered Indian market, and will tie-up with banks and NBFCs to provide credit risk assessment solutions for targeted lending to SME sector.

Wiserfunding has launched its Artificial Intelligence (AI) backed cloud-based credit risk assessment tool targeted for small and medium enterprises (SMEs), it said in a release.

The existing models in lending sector are not specific to the SMEs, largely non-technology based and have low prediction accuracy, it added.

"The London headquartered fintech aims to invest $35 million (about Rs 37 crore) over the next three years to tailor credit risk models specifically