Verihubs Secures 39.9 Billion Rupiah Seed Funding, to Release Credit Scoring Service
Participated also in this round a series of local startup co-founders as angel investors
The E-KYC service startup Verihubs announced $2.8 million (approximately 39.9 billion Rupiah) seed funding round led by Insignia Venture Partners with participation from Central Capital Ventures (CCV) and Armand Ventures. The company plans to expand into regional markets, as well as develop new products, one of which is credit scoring.
Participated also in this round a series of local startup angel investors, including Budi Handoko (Shipper's Co-Founder), Jefriyanto and Ricky Winata (Payfazz' Co-Founder), Rohit Mulani (Gotrade's Co-Founder), Chinmay Chauhan (Bukuwarung's Co-Founder), and Pramodh Rai (Modalku's ex-Chief Product Officer).
Previously, in the 2019's pre-seed, Payfazz' Co-founder, Hendra Kwik and Xfers' Co-founder, Tianwei Liu participated in this stage along with Indigo Creative Nation.
Quoting from TechCrunch, a series of angel investors were previously Verihubs' users. Together with Payfazz, Verihubs opens the opportunity for customers to deposit money with local agents to use for online payments, and BukuWarung, to access transaction data.
The two examples above are Verihubs solutions for the unbanked segment. Meanwhile, the company also serves the segment of users who already have a bank account. The CCV entrance as Verihubs' investor ranks opens the possibility of implementing e-KYC verification, especially for users with bank accounts, as they can partner with BCA to access customer data.
Currently, 46 companies have used Verihubs' service, most of which are in the financial sector. The number of users is targeted to be doubled to 100 companies, because Verihubs technology can also be used for e-commerce companies, marketplace rentals, and hospitality. One of Verihubs users came from hospitality, they used the platform to simplify the room check-in process.
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