October 18, 2019
Datacultr, the leading PaaS for consumer lending companies, has been honoured as a winner of the prestigious 2019 Red Herring Top 100 Asia award. The award recognizes the innovative technology solutions by outstanding entrepreneurs and promising companies from Asia.
Datacultr wins 2019 Red Herring Top 100 Asia Award
Red Herring Top 100 Asia selects the award winners from approximately 1000 privately financed companies each year in Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi, and YouTube would change the way we live and work.
Winners of 2019 Top 100 Asia, one of the most revered accolade in the industry were chosen by an independent expert panel of judges and the Red Herring editorial team based on both qualitative and quantitative criteria, such as financial performance, technological innovation, and intellectual property, DNA of the founders, business model, customer footprint and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Asia.
Commenting on the achievement, Neel Juriasingani, CEO & Co-founder, Datacultr, said, "At Datacultr, we are disrupting how smartphone purchase loans are given to new to credit customers. By using our technology, we de-risk the lender for such loans and make credit easy, cheap and affordable for their customers. We believe the smartphone is a livelihood multiplier and should be made affordable to even those who may be earning less than 2 dollars a day.”
"It is an honor and a privilege to be recognized by Red Herring for our effort. This is dedicated to the entire Datacultr team for our laser focussed commitment towards building technology to completely redefine the lending ecosystem by unlocking new business models while remaining true to our vision of financial inclusion for the 3 billion underbanked and underserved brothers and sisters across the globe,” said Mr. Sujoy Ghosh, CTO & Co-founder, Datacultr.
“In 2019, selecting the top achievers was difficult as always,” said Alex Vieux, publisher and CEO of Red Herring. “The variety, depth, disruption and traction we saw from the early-stage companies to those with significant scale made 2019 a great vintage to judge. The Asia winners are representative of the amazing ecosystem that never ceases to astound, with new and experienced entrepreneurs continuing to push the barriers of innovation.”
“What has excited me most is to see so many businesses forging a niche in high-end technology,” added Vieux. “Some of the technical wizardry and first-rate business models on display at the conference are fantastic learning. We believe that Datacultr embodies the drive, skill, and passion on which tech thrives. Datacultr should be proud of its achievement: the competition was incredibly strong,” Alex further added.
Datacultr is a PaaS that allows consumer lending companies to significantly reduce their risk on 'New to Credit' customers. Datacultr allows the lender to give out unsecured loans, at a lower risk, by allowing borrowers to present their newly purchased or existing Smartphone as collateral.
Established by Neel Juriasingani and Sujoy Ghosh in 2016, datacultr has a vision of empowering banks and other consumer lending companies, and thus bring more people under the umbrella of financial inclusion.
Datacultr is part of Microsoft for Startups & Google Cloud for Startups. It is the winner of Emerge50, 2018 award, given by NASSCOM to India’s Most Innovative Top 50 Emerging Software Product Companies. It was also recognised by the Haryana Government for product excellence in 2019. The team consists of well-experienced members from the telecom and mobile OEM space, with a deep understanding of consumers in emerging markets and have vast expertise in building scalable technology platforms.