What is Skeps?
Founded in 2018 and headquartered in New York with additional offices in India, Skeps operates a cloud-based modular platform. This innovative system assists merchants and lenders in identifying potential credit solutions for their clientele that exhibit the highest likelihood of conversion. Skeps leverages private blockchain technology to securely and compliantly combine information across multiple platforms, enhancing the credit assessment process for businesses. The company's focus on secure data aggregation and conversion optimization positions it as a key player in the financial technology sector, particularly for businesses seeking to streamline their lending operations.
How much funding has Skeps raised?
Skeps has raised a total of $10.5M across 2 funding rounds:
Angel/Seed
$1M
Series A
$9.5M
Angel/Seed (2019): $1M with participation from Accel
Series A (2021): $9.5M led by Accel and Bertelsmann India Investments
Key Investors in Skeps
Accel
Accel is a prominent venture capital firm known for its early-stage investments in technology companies. They have a history of backing successful startups and providing strategic guidance to help them scale.
Bertelsmann India Investments
Bertelsmann India Investments (BII) is a venture capital fund focused on early growth-stage tech startups across various sectors including healthtech, fintech, agritech, and edtech. With a commitment of $500 million over the next five years, BII invests between $5 million to $15 million in Series A to C funding rounds, supporting entrepreneurs in building global champions. The firm has a diverse portfolio with 370 active investments and has backed notable companies like Eruditus, Licious, and Shiprocket. As the strategic investment arm of Bertelsmann SE & Co. KGaA in India, BII combines global reach with local insights to empower founders and foster long-term growth.
What's next for Skeps?
The recent major strategic investment signifies a pivotal moment for Skeps, indicating a strong market validation and providing the necessary capital for accelerated growth and expansion. This infusion of financing is expected to fuel further development of its proprietary blockchain technology and enhance its platform's capabilities in serving both merchants and lenders. Skeps is poised to deepen its market penetration, potentially exploring new verticals within the fintech space and solidifying its position as a leader in credit solution identification and conversion optimization. The company's trajectory suggests a focus on scaling its operations and further innovating its secure, compliant data aggregation methods.
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