Reall-Syntellect to change housing market landscape for millions
Syntellect, a Mumbai-based global affordable housing fintech startup, said it will use the strategic investment in Pre-Series A Round from UK-based Reall to further build and promote its flagship product RightProfileTM for affordable housing solutions in India, Africa and South America.
“With the investment received from Reall, we intend to grow our platform, take our capabilities to lenders and promoters across India, Africa and South America,” Syntellect Founder & CEO Sumedha Salunkhe Naik said on 29 Sept 2022.
“We will bank the unbanked across the world and make affordable housing a reality while helping lenders expand their customer base without having to take unnecessary risks.”
“We built RightProfileTM to change the economic disbalance selective lending has caused in the world. Every bank or financial institution offers home loans to the banked segment.
“No one has ever digitized the underserved, unbanked low-income informal customer segment causing discrimination in the credit access system,” she said.
“Reall is excited to be partnering with Syntellect and working closely with them to change the housing market landscape for millions of low-income and unsalaried families across India and beyond,” said Laura Howlett, Head of Operations, Asia, Reall.
“Syntellect’s RightProfileTM tool is a vital piece of the jigsaw for opening up access to affordable financing for sustainable homes,” added Howlett.
The investment amount was not disclosed.
RightProfileTM is an inventive customer profiling and loan underwriting tool, empowering lenders worldwide by providing creditworthiness insights of the underserved, unbanked low-income informal customer segment, thus opening the floodgates of financial inclusion.
From profiling people from the top 20 trade segments to recommending the right loan amount, RightProfileTM gives decision intelligence to lenders through data acquisition and evaluation based on their income, geographic location, family structure and loan feasibility strength.
RightProfileTM leverages AI, ML, statistics, specialized programming, and advanced analytics to uncover actionable insights and provide decision intelligence to lenders based on multiple parameters and customized to the top 20 trades globally.
Since its inception in 2017, RightProfileTM has generated customer profiles for over 14,000 clients.
Syntellect is recognized for its expertise by the World Bank and IFC in affordable housing solutions.
Reall has over 30 years of experience in affordable housing and urban development. With an investment portfolio of 43 million pound, Reall has reached over 730,000 low-income people with improved housing. fiinews.com
