Scratch launches new loan servicing platform

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Scratch: San Francisco-based start-up launches its digital loan servicing platform

  • Focus on transforming the antiquated business of getting America’s $13 trillion household debt repaid
  • Scratch platform, which includes APIs, gives borrowers a web application for understanding, managing and paying back their loans while providing lenders real-time portfolio insights
  • Automates the back-office “complexities” of loan management
  • Its technology is designed to simulate and unwind any loan transaction, loan accounting, treasury management, or reporting
  • Investors include Index Ventures, Ribbit Capital, Founders Fund, Nyca Partners and CFSI JP Morgan Chase