Okredo a Credit Risk Platform secures €1.2M to develop AI Scoring System
Summary
UK-based startup Okredo, known for its innovative open data solutions, has received 1.2 million in funding from the European Union. Targeted primarily at small and medium-sized enterprises (SMEs), the platform will help improve financial literacy, broaden access to financing, and enhance business efficiency. The system is also expected to attract interest from international corporations, government agencies, and financial institutions for managing credit and fraud risks while boosting sales opportunities.The new AI-based scoring system will leverage comprehensive data on SMEs, allowing users to better forecast, assess, and manage credit risks. The platform provides essential information such as credit ratings, business links, and financial ratios, enhancing operational efficiency. Okredo also collaborates with ERP, CRM, and accounting software providers to integrate up-to-date data, making these tools even more powerful and user-friendly.