US-based loan verification and fraud prevention fintech Informed.IQ has landed a $63 million investment from Invictus Growth Partners.
Launched by co-founders Justin Wickett and Magdalena Yesil in 2016, Informed.IQ offers a solution that helps banks and lenders automate loan verification processes using agentic AI.
The technology checks documents and data provided by borrowers to verify information like income, employment, and identity and detect potential fraud patterns. The company says its tech has supported “over $350 billion” in loan originations to date.
According to a statement, Informed.IQ says the new funding accelerates its expansion in auto finance, where its tech is currently used by seven of the top ten US auto lenders, and “supports its strategic entry into mortgage, consumer lending, tenant screening, and government benefit administration”.
The investment follows a $20 million Series A funding round in May 2021, co-led by Nyca Partners and US Venture Partners and supported by Manuel Bronstein, former VP of product at Google, and Dan Romero, former VP of Coinbase.
Source: https://www.fintechfutures.com/
