Aire, a London, UK-based consumer credit score startup, raised a further $2m in funding.
Led by CEO Aneesh Varma, Aire gives people, especially young adults, the self-employed or those who have recently moved country, a new credit score to qualify for essential financial products. Now authorized and regulated in the UK by the Financial Conduct Authority (FCA), the platform algorithmically generates a score factoring in the character and capacity of applicants by leveraging machine learning.
Aire will work with a select number of lending partners in each category. The company is currently focused on partnerships with lenders in personal loans and credit cards but has plans to expand to broader financial products.