Infact: A New Dawn for Credit Reference Agencies
September 27, 2024, 3:44 am
In the bustling world of finance, change is the only constant. Enter Infact, a challenger credit bureau that has just raised £4 million in seed funding. This isn’t just another startup; it’s a revolution in how we think about credit. Infact aims to reshape the credit landscape, leaving behind the outdated practices of legacy agencies.
Infact has secured the green light from the Financial Conduct Authority (FCA). This approval is a badge of honor, allowing them to operate as a real-time credit bureau. The funding round was led by AlbionVC, with support from 13books Capital, Outward VC, Form Ventures, and Portfolio Ventures. These investors see the potential in Infact’s vision. They understand that the traditional credit referencing model is ripe for disruption.
The credit industry has long been shackled by legacy systems. These old guard agencies struggle to adapt to the fast-paced changes in consumer behavior. People today want quick, accessible credit options. They are moving away from traditional loans to more dynamic, lower-value products. Infact steps into this gap, offering a fresh approach.
Infact’s platform is built on real-time data. It provides an API that allows lenders to report and receive consumer credit risk insights instantly. This is a game-changer. Lenders can make informed decisions on the fly, improving their lending performance. They can also increase profitability by understanding their customers better. For consumers, this means a chance to build and rehabilitate their credit profiles more effectively. It’s a win-win.
The founders, Will Mason and Andy Milligan, bring a wealth of experience to the table. They previously worked at Runpath, which was acquired by Experian. Their backgrounds include stints at major players like NatWest, TSB, and Visa. This diverse experience equips them with the knowledge to tackle the challenges of the credit industry head-on.
Infact is not just about technology; it’s about understanding people. The founders recognize that consumers are more than just numbers. They have rich financial lives that deserve to be acknowledged. This human-centric approach sets Infact apart from its competitors. It’s not just about credit scores; it’s about credit stories.
Since receiving FCA authorization, Infact has made significant strides. They have engaged with several leading UK lenders to help populate their bureau. Their first product, the Affordability Engine, has already launched. This tool helps lenders assess whether consumers can afford to borrow, based on real-time data. It’s a step towards more responsible lending.
The investment from AlbionVC and others is a testament to the confidence in Infact’s mission. Investors see the potential for growth and innovation. They understand that the credit referencing landscape is changing. Infact is poised to lead this transformation.
The challenges are significant. The credit industry is complex and heavily regulated. Infact must navigate these waters carefully. However, with a strong founding team and a clear vision, they are well-equipped to face these hurdles.
As Infact builds its database, it will gather insights that traditional agencies cannot match. This richer data will empower lenders to make better decisions. It will also help consumers understand their credit profiles more clearly. Knowledge is power, and Infact aims to put that power back in the hands of the people.
The credit market is evolving. Consumers are demanding more transparency and flexibility. They want to be treated as individuals, not just credit scores. Infact’s approach aligns with these expectations. By focusing on real-time data and consumer-centric solutions, they are setting a new standard.
The road ahead is filled with opportunities. Infact plans to expand its product suite, offering more tools for lenders and consumers alike. This expansion will further solidify its position in the market. The goal is clear: to become a category-leading credit referencing agency globally.
In a world where trust is paramount, Infact aims to build relationships. They want to foster a sense of security for both lenders and consumers. By providing accurate, real-time insights, they can help restore faith in the credit system.
The funding is just the beginning. Infact is on a mission to redefine credit referencing. They are not just another player in the game; they are the game-changers. With their innovative approach, they are poised to disrupt the status quo.
In conclusion, Infact represents a new dawn for credit reference agencies. With £4 million in seed funding and a vision for the future, they are ready to challenge the old ways. The credit landscape is changing, and Infact is leading the charge. This is a story of innovation, opportunity, and a commitment to better credit solutions for all. The future of credit is bright, and Infact is at the forefront.
Infact has secured the green light from the Financial Conduct Authority (FCA). This approval is a badge of honor, allowing them to operate as a real-time credit bureau. The funding round was led by AlbionVC, with support from 13books Capital, Outward VC, Form Ventures, and Portfolio Ventures. These investors see the potential in Infact’s vision. They understand that the traditional credit referencing model is ripe for disruption.
The credit industry has long been shackled by legacy systems. These old guard agencies struggle to adapt to the fast-paced changes in consumer behavior. People today want quick, accessible credit options. They are moving away from traditional loans to more dynamic, lower-value products. Infact steps into this gap, offering a fresh approach.
Infact’s platform is built on real-time data. It provides an API that allows lenders to report and receive consumer credit risk insights instantly. This is a game-changer. Lenders can make informed decisions on the fly, improving their lending performance. They can also increase profitability by understanding their customers better. For consumers, this means a chance to build and rehabilitate their credit profiles more effectively. It’s a win-win.
The founders, Will Mason and Andy Milligan, bring a wealth of experience to the table. They previously worked at Runpath, which was acquired by Experian. Their backgrounds include stints at major players like NatWest, TSB, and Visa. This diverse experience equips them with the knowledge to tackle the challenges of the credit industry head-on.
Infact is not just about technology; it’s about understanding people. The founders recognize that consumers are more than just numbers. They have rich financial lives that deserve to be acknowledged. This human-centric approach sets Infact apart from its competitors. It’s not just about credit scores; it’s about credit stories.
Since receiving FCA authorization, Infact has made significant strides. They have engaged with several leading UK lenders to help populate their bureau. Their first product, the Affordability Engine, has already launched. This tool helps lenders assess whether consumers can afford to borrow, based on real-time data. It’s a step towards more responsible lending.
The investment from AlbionVC and others is a testament to the confidence in Infact’s mission. Investors see the potential for growth and innovation. They understand that the credit referencing landscape is changing. Infact is poised to lead this transformation.
The challenges are significant. The credit industry is complex and heavily regulated. Infact must navigate these waters carefully. However, with a strong founding team and a clear vision, they are well-equipped to face these hurdles.
As Infact builds its database, it will gather insights that traditional agencies cannot match. This richer data will empower lenders to make better decisions. It will also help consumers understand their credit profiles more clearly. Knowledge is power, and Infact aims to put that power back in the hands of the people.
The credit market is evolving. Consumers are demanding more transparency and flexibility. They want to be treated as individuals, not just credit scores. Infact’s approach aligns with these expectations. By focusing on real-time data and consumer-centric solutions, they are setting a new standard.
The road ahead is filled with opportunities. Infact plans to expand its product suite, offering more tools for lenders and consumers alike. This expansion will further solidify its position in the market. The goal is clear: to become a category-leading credit referencing agency globally.
In a world where trust is paramount, Infact aims to build relationships. They want to foster a sense of security for both lenders and consumers. By providing accurate, real-time insights, they can help restore faith in the credit system.
The funding is just the beginning. Infact is on a mission to redefine credit referencing. They are not just another player in the game; they are the game-changers. With their innovative approach, they are poised to disrupt the status quo.
In conclusion, Infact represents a new dawn for credit reference agencies. With £4 million in seed funding and a vision for the future, they are ready to challenge the old ways. The credit landscape is changing, and Infact is leading the charge. This is a story of innovation, opportunity, and a commitment to better credit solutions for all. The future of credit is bright, and Infact is at the forefront.