Bangalore-based startup Artoo, which offers an online platform to help financial institutions with their customer relationship management, has secured a $500K Series A round from Accion Venture Labs and Switzerland-based Rianta Capital Zurich’s Artha Initiative.
Artoo operates a unique online CRM platform, tailor-made for lenders who spend resources into manual workforce ans still fail to achieve efficiency in workflow. Artoo’s financial CRM improves visibility into sales efforts, enabling companies to tailor marketing efforts, track sales pipelines and monitor sales teams thereby reducing the cost of customer acquisition.
The startup offers a completely hassle free experience by providing a comprehensive dashboard to lenders to help them manage lead management, loan origination and credit underwriting. Its platform is specifically targeted towards small and micro-finance lending institutions, further scalable to mainstream banking solutions.
Artoo’s workflow automation tool replaces repetitive manual processes, from loan origination to complex credit processes and finally to loan sanctioning and disbursement.
It’s customised templates for preparing cash-flow statements inbuilt credit policies and automated eligibility rules allow for nimble and well-informed credit underwriting.
With this freshly infused capital, the startup aims at hiring more people in order to expand to South East Asia, starting with the Philippines by the end of 2015 as well as improve performance and features of the technology platform to allow customers to personalize their financial product.