Aire Labs: Alternative Credit Scoring for Thin-file Customers
We are excited to release the fourth episode of VentureKast, Accion Venture Lab’s podcast series. On this episode we welcome Aneesh Varma, CEO of Aire Labs, a UK-based credit scoring startup that helps “thin-file” customers — including legal migrants, new borrowers, and young adults – access financial products and build the credit histories they need for the future.
Aneesh sits down with our host, Vikas Raj, at Venture Lab’s office to share his serial entrepreneurial journey, from setting up an e-commerce business in his early twenties to building Aire into a leading alternative credit scoring business. He shares many lessons along the way, including the often-underestimated importance of defining strategy from day one, as well as the danger of chasing “shiny objects.”
Aneesh talks about how he believes that the current “subset” of the population, such as the self-employed and people with high international mobility, will soon become a “superset” and how financial services will need to catch up. He shares how this inspired him to set up Aire and how Aire’s proprietary artificial intelligence process — its Virtual Interview — will ultimately help banks lend to new, qualified borrowers who are currently without a credit score. Tune in and share!
The next episode of VentureKast, due to be released next month, will feature Dan Cohen of Tienda Pago, a tech-enabled, small retailer lender in Latin America. Stay tuned!