Algoan

Algoan is a France-based fintech startup founded in 2018 with a mission to revolutionize the credit sector. The company's slogan, "Leading-edge technology for better and fairer credit decisions," reflects its core goal. Algoan specializes in providing fair and transparent credit decisioning tools through its Credit Scoring API, catering to financial institutions, retailers, and fintech companies across Europe. Leveraging Open Banking principles for secure bank account data sharing, Algoan's solutions have demonstrated the potential to reduce credit risk by up to 50%, boost loan production by up to 40%, and lower processing costs. Additionally, the company offers a seamless 100% digital pathway for credit applicants. Although Algoan has a compelling business model, there is no publicly disclosed information about its latest investment round or the participating investors. This suggests a potential opportunity for venture capitalists interested in the finance industry to explore investment prospects in this innovative and impactful startup.