Two Polish funds, bValue and SpeedUp, have announced that they will invest 400,000 euros on Ukranian startup bNesis. The startup bNesis provides banks with an analysis system that gathers information about the creditworthiness of potential lenders.
bNesis is a privately held Ukrainian company founded in 2016 by Dmitriy Norenko and Denys Kirin. The idea for the startup arose from the demand from customers to get all possible banking services online in a quick, safe, easy and convenient manner. The old fashioned credit application process is simply far more difficult and complicated than what it could be with all the effort and time involved in the acquisition and analysis of documentation.
This is where bNesis saw a market opportunity to create a solution that would make the credit application process easier and far more bearable for customers and banks alike. With the bNesis system, credit applicants can now share their real-time financial metrics from all their accounts in banks and social media instead of preparing a bunch of hard copy documentations and delivering them to the bank for analysis. Best of all is that bNesis’s platform is so simple that everything can be done in just a couple of clicks.
The platform also greatly benefits banks by saving time and increasing the credit scoring accuracy rate by around 3-7% resulting in less debts and better interest margin to enhance incomes.
This is still a startup in its early stage of development and currently only has a total of nine employees.
The company’s CEO’s will be hoping that the financial support they will receive from the Polish funds will push rapid growth and development. The news is also positive for Ukraine’s entrepreneurship as a whole which hasn’t really kick-started the way it has for their neighboring eastern European countries such as Poland and Czech Republic.