UK-based Reall backs housing fintech firm Syntellect

• ByStartupStory     |    September 30, 2022

Syntellect, a Mumbai-based global affordable housing finance firm, obtains strategic investment in Pre Series A Round from UK-based Reall — an impact organization in affordable housing. These funds will be utilized to expand the development and marketing of RightProfileTM, Syntellect’s flagship product, which provides low-cost housing solutions in the emerging markets of India, Africa, and South America.

RightProfileTM is an innovative customer profile and loan underwriting tool that is enabling lenders throughout the globe by delivering creditworthiness insights to the underserved, unbanked, low-income informal consumer sector. RightProfileTM provides lenders with decision intelligence by collecting and analyzing information about borrowers’ income, location, family composition, and the strength of their loan applications to create detailed profiles of the top 20 trade segments and determine the optimal loan amount to meet their needs.

“Syntellect’s RightProfileTM tool is a vital piece of the jigsaw for opening up access to affordable financing for sustainable homes. Reall is excited to be partnering with Syntellect and working closely with them to change the housing market landscape for millions of low-income and unsalaried families across India and beyond.” Says Laura Howlett, Head of Operations, Asia, Reall.

Utilizing many factors and tailored to the top 20 transactions in the world, RightProfileTM uses AI, ML, statistics, specialist programming, and sophisticated analytics to unearth actionable insights and deliver decision intelligence to lenders. Since its beginning in 2017, RightProfileTM has developed customer profiles for over 14,000 customers.

The World Bank and the International Finance Corporation both acknowledge Syntellect’s experience in providing affordable housing options.

A veteran of the affordable housing and city planning industries for almost three decades. Over 730,000 individuals on modest incomes have benefited from Reall’s portfolio of investments worth £43 million. Reall is an impact investor that finances affordable housing developers and projects to demonstrate their financial viability. It is an incubator of investable housing businesses and projects (pipeline generation). Reall is a market builder that uses evidence to remove barriers, sway opinion, and bring in additional participants.

Commenting on its partnership with Reall, Syntellect’s Founder & CEO Sumedha Salunkhe Naik says, “We built RightProfileTM to change the economic dis-balance selective lending has caused in the world. Every bank or financial institution offers home loans to the banked segment. No one has ever digitized the underserved, unbanked low-income informal customer segment causing discrimination in the credit access system.”

She further adds, “With the investment received from Reall, we intend to grow our platform, take our capabilities to lenders and promoters across India, Africa and South America. We will bank the unbanked across the world and make affordable housing a reality while helping lenders expand their customer base without having to take unnecessary risks.”

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