UK-based credit scoring and risk decisioning platform DirectID has secured a USD 9m investment from Ikea’s venture arm Ingka Investments.
DirectID uses open banking data and predictive models to track credit risk in real-time and provide insight into affordability, income verification, and financial distress.
The firm says the new capital will be used to expand credit risk offerings into new markets and accelerate the development of models for every stage of the loan lifecycle, from origination to portfolio management to collection.
The investment is the latest in a series of funding rounds related to financial services by Ingka Investments, which has stakes in climate data platform Doconomy, BNPL Jifiti and Ikano Bank, among others.
Read more: Ikea investment arm pumps €9 million into DirectID
