Lendingkart is a well-funded start up that uses analytics and online data to determine whether it wants to lend to businesses or not. So instead of filling paper forms and making multiple trips to the bank, the businessman just logs in, provides access to his online footprint and we use our proprietary selflearning algo for credit-scoring and to decide instantaneously whether we want to lend to him or not. There is enough data footprint online to determine the intent to pay back a loan, quality of his product/service, health of his business, and his ability to compete etc.
We are a team of ISB, IIM grads determined to automate the entire banking decision and delivery process.
For more details - http://www.lendingkart.com.