Fintech startup GoodScore raises $13 million in funding led by Peak XV Partners

Bengaluru-based fintech startup GoodScore has raised $13 million (about Rs 116 crore) in a Series A funding round led by Peak XV Partners, with participation from existing investors Stellaris Venture Partners and Saison Capital.

Advertisment

The startup plans to use the funds to deepen its AI-led credit advisory offerings, expand its engineering and product teams, and strengthen its credit marketplace that connects borrowers and lenders. It also aims to broaden its reach in tier II and tier III cities.

Founded in 2023 by Sanchit Bansal, GoodScore helps users monitor and improve their credit health through personalised, AI-driven insights. The app integrates data from credit bureaus, bank transactions, and spending records to provide a consolidated view of a user’s credit profile. It offers tools for score improvement, EMI and credit card payment reminders, and access to financial experts.

The startup claims to have over five million active users and charges a subscription fee of Rs 99. It has partnered with leading banks and NBFCs such as HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, KreditBee, and Tata Capital to help users manage repayments and access better credit opportunities.

GoodScore began monetising its operations in FY24, reporting operating revenue of Rs 2.5 crore, up from nearly zero in FY23. However, its losses also widened 7.7 times to Rs 7 crore in the same period.