Faire

Overview
FinTech Infrastructure?
Product stageSegments
Early
?
Lending-as-a-service (LaaS)
?

Based in Italy, Faire.ai provides an infrastructure platform for banks and financial institutions to offer lending solutions. The company offers a single application programming interface (API) to build a credit platform, which integrates with the core banking technology of its bank partners and credit bureaus.

The platform uses artificial intelligence (AI) and machine learning models to assess customer transaction data and history to analyze and calculate customer credit scores and loan eligibility. Faire also offers a dashboard for lenders to manage the lifecycle of loans, from customer onboarding to payment installments. In April 2021, Faire.ai launched an instant lending app, “Cream” (developed for Banca Progetto), which leverages open banking as a data source to deliver instant loans. Cream utilizes a unique credit scoring mechanism to assess financial reliability, which is based on habits, expenditure categories, income and expenditure relationship trends, and so on, instead of factors such as age, origin, and territoriality.

HQ location:
Milano ITA
Founded year:
2020
Employees:
11-50
IPO status:
Private
Total funding:
USD 2.9 mn
Last Funding:
USD 2.9 mn (Seed; Oct 2022)
Last valuation:
-
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Product Overview
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Company profile
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