What is Scratch?
Scratch is revolutionizing the management and repayment of household debt in America, a market valued at $13 trillion. The company's loan servicing platform is designed to harmonize the financial interests of both lenders and borrowers. For borrowers, Scratch offers tools to enhance loan understanding, management, and repayment. Simultaneously, it provides lenders with precise, real-time insights into their portfolios. By automating the intricate processes of loan management, Scratch enables a greater focus on borrower support and guidance. The company was founded by a diverse team of experts from Silicon Valley's consumer tech scene, Washington D.C.'s regulatory sphere, and Wall Street's financial sector, with its headquarters located in San Francisco.
How much funding has Scratch raised?
Scratch has raised a total of $17M across 1 funding round:
Unspecified
$17M
Unspecified (2018): $17M with participation from Index Ventures, Ribbit Capital, Founders Fund, Center for Financial Services Innovation (CFSI), JP Morgan Chase & Co., and Nyca Partners
Key Investors in Scratch
Index Ventures
Index Ventures is a global venture capital firm known for investing in visionary entrepreneurs from the seed stage through IPO, focusing on companies that challenge the status quo. Their portfolio includes prominent tech companies, indicating a strategic interest in scalable technology platforms.
Founders Fund
Founders Fund is a prominent venture capital firm that backs transformative companies across various sectors and stages. Their investment philosophy emphasizes supporting founders with significant potential, aligning with Scratch's mission to disrupt the traditional debt servicing market.
Ribbit Capital
Ribbit Capital is a venture capital firm with a global focus on identifying and supporting innovative companies within the financial services sector. Their investment in Scratch suggests a belief in the company's potential to drive significant innovation in loan management and borrower services.
What's next for Scratch?
The substantial enterprise-level funding indicates Scratch is poised for significant scaling and market expansion. This capital injection is likely to fuel further development of its loan servicing technology, enhance its reach to a broader base of lenders and borrowers, and potentially explore new financial products or services. The strategic nature of the recent investment suggests strong alignment with key industry players, paving the way for deeper integration and collaborative growth within the financial services ecosystem.
See full Scratch company page
