Overview

Scratch focuses on loan servicing, providing a platform that simplifies the repayment process for borrowers and offers insights for lenders. Borrowers can manage their loans by making payments, setting up autopay, changing due dates, and tracking their loan progress. For lenders, Scratch offers tools that allow them to innovate and expand their portfolios, accommodating various asset classes. The company generates revenue through service fees charged to lenders for using its platform. Scratch aims to empower borrowers to maintain financial health while helping lenders efficiently enter the market with a dependable servicing partner.

Simplify's Take

What believers are saying

• Increased demand for digital loan servicing platforms benefits Scratch.
• Growing interest in AI-driven insights aligns with Scratch's offerings.
• Rising consumer preference for mobile-first solutions supports Scratch's platform capabilities.

What critics are saying

• Increased competition from emerging fintech startups could erode Scratch's market share.
• Rising interest rates may decrease loan origination, impacting Scratch's revenue.
• Data privacy concerns could lead to increased compliance costs for Scratch.

What makes Scratch Financial unique

• Scratch offers a comprehensive platform for both borrowers and lenders.
• The company provides tools for lenders to innovate and expand their portfolios.
• Scratch focuses on simplifying the repayment process for borrowers.

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Funding

Total Funding

$19.5M

Above

Industry Average

Funded Over

2 Rounds

Notable Investors:

Bessemer Venture Partners

Notable Investors:

Bessemer Venture Partners

$17,000,000

Late VC

Sep 2018

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Late VC Funding Comparison

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