TechCrunch Summary (2023-05-23 07PM)

Source: Indonesia’s Skorlife gets funding to give Indonesians power over their credit scores

Summary
Indonesian fintech Skorlife has raised $4m in seed funding, led by Hummingbird Ventures and QED investors. The app provides users with their credit score and report, personalised advice on how to improve their scores and protection from identity theft.

Fact

💳 Skorlife’s app shows users their credit scores and reports from Indonesia’s credit bureaus and gives personalised advice on how they can improve their credit and keep safe from identity theft.

📈 Skorlife helps Indonesian consumers gain access to credit products by providing advice on how to improve their credit scores.

📊 The company was the only credit builder admitted by Indonesia’s financial regulator into a regulatory sandbox in the country.

💻 The firm also announced it had received certifications for ISO 27001 and ISO 27701.

💰 Skorlife’s seed funding round was led by Hummingbird Ventures and had participation from QED Investors, AC Ventures and Saison Capital. The startup plans to use the funding to expand the app’s product development, marketing and hiring.

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