Zopa partners with credit scorer

Peer-to-peer lender Zopa and car finance business Toyota Financial Services have teamed up with the credit score specialist Aire.

The two companies have joined other sub-sector partners, including credit cards and high street banks.

Aire recently closed a $5m (approximately £3.8m) Series A funding round from deep-tech VCs and has products such as the interactive virtual interview (IVI) which can be applied and integrated to help lenders and banks better understand a wide range of credit applicants.

Aire focuses on making old-fashioned credit-scoring systems ideal for a new generation of borrowers.

The funding round was led by Sunstone Capital alongside White Star, who led Aire’s seed round in 2016.

The credit score specialist received FCA approval in September 2016.

Aneesh Varma, founder and CEO of Aire, said: “Aire has stood for an idea that people should have equal opportunities for financial products despite [the] changing realities of work, lifestyle and careers in this modern economy.

“This new funding round is [a] strong vindication that we are making the right progress towards that goal.

“The last year has been exceptionally positive with the FCA authorisation, new partnerships, increasing data volumes and now the funding to go into new markets.

“We are keen to bring Aire to as many people as we can, so there is still a busy time ahead of us on this mission.”

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