Overview

Scratch Financial focuses on loan servicing, making it easier for borrowers to manage their repayments and for lenders to gain insights into their portfolios. The platform allows borrowers to handle various aspects of their loans, such as making payments, setting up autopay, adjusting due dates, and tracking their loan status. For lenders, Scratch offers tools that help them innovate and expand their offerings across different asset classes. Unlike many competitors, Scratch emphasizes a user-friendly experience for borrowers while providing flexible solutions for lenders. The goal of Scratch is to help borrowers maintain financial health and support lenders in efficiently managing their services.

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

$20M

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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