Ocrolus, a fintech infrastructure company that transforms documents into actionable data, announced on Thursday it has launched a new lending program through a partnership with Kiva, a crowdfunding platform dedicated to connecting people through lending.
Ocrolus reported that with the Kiva program it is working with customers to tell their own stories about business lending. The company then noted that it is matching customer funding on a dollar-for-dollar basis up to an additional $5,000 and has also organized a quarterly bonus funding program that will free up more funds based on customers’ usage on its platform. Speaking about the collaboration, Ocrolus COO, Vikas Dua, stated:
“Ocrolus is excited to share this initiative with our client partners. Through our matching funds program, clients can give back to the global community by sponsoring entrepreneurs, leaders, and dreamers in under-served communities around the world. Ocrolus is committed to leveraging the impact of our fintech platform for social responsibility campaigns, and we’re thrilled to welcome the greater Ocrolus community to join us in supporting Kiva and their mission to alleviate global poverty.”
Founded in 2014, Ocrolus states it plugs directly into customer workflows through API and its solution includes built-in fraud detection and analytics. Use-cases include loan underwriting, account openings, invoice processing, and other document-intensive processes. The company has raised more than $30 million in venture capital and is asked by Oak HC/FT, FinTech Collective, Bullpen Capital, and QED Investors.