CHENNAI: Credit Card bill payment platform Cred on Tuesday said it has acquired SaaS lending-as-a-service platform CreditVidya in a mix of cash and stock transaction for an undisclosed sum.

CreditVidya’s full stack platform enables businesses to embed customised credit products through easy to integrate application programming interfaces (APIs).

“Expanding access to credit is a key driver for financial progress. CreditVidya’s patented tech stack uncovers signals of trust among under-served cohorts. We look forward to supporting them in powering an inclusive credit ecosystem,” said Kunal Shah, Founder, Cred.

Cred and CreditVidya will continue to operate independently. CreditVidya’s more than 200 team members will get all the benefits extended to Cred team members, including its ESOP programme.

“We’ve invested in building category-defining products that bring financial services to credit under-served Indians through our partners, transforming how risk is assessed and trust measured to drive financial inclusion,” said Abhishek Agarwal, co-founder-CEO, CreditVidya.

CreditVidya and its products enable businesses to build and deploy customised credit products through a simple API integration.

“In the last few years, we have leveraged the power of technology to expand access to credit,” said Rajiv Raj, co-founder and director, CreditVidya. Cred, with a market valuation of $6.4 billion, reached top position on the LinkedIn’s ‘Top Startups’ list, from the third spot in 2021, the professional networking platform said in September this year. The platform last month launched ‘Scan & pay’, a UPI payment experience for members on the app.

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