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4 April 2021

Prytek invests in Israeli fintech co CRiskCo

Israel, April 4, 2021 – Prytek invests in Israeli fintech co CRiskCo.

Prytek has added credit capabilities to its onboarding platform Karbon by investing in CRiskCo, which has developed a platform that makes loan application processes digitally accessible.

Technology group Prytek has added credit capabilities to its onboarding platform Karbon by investing in CRiskCo through its corporate venture capital arm.

Prytek serves top tier banks providing technologies, managed services and BOPaaS (Business Operating Platform-as-a-Service) through its subsidiary Delta Capita. As part of its strategy, Delta Capita offers Client Lifecycle Management to (CLM) banks using its proprietary technology Karbon.

Karbon is an end-to-end intelligent CLM platform that provides data sourcing, data integration, workflow, rules engine and screening. The platform leverages AI and ML to enhance and streamline the KYC process.

“CRiskCo will be an additional function in our system providing real time scoring on SME” says Gary McClure Head of CLM business in Delta Capita.

Israeli startup CRiskCo, which was founded in 2015 by CEO Erez Saf, has developed a platform that makes the loan application processes digitally accessible. From the data collection stage, CRiskCo allows a single API to control a broad range of bookkeeping systems including ML-based underwriting and predictive analytics. This structure helps both parties: the borrower manages the credit responsibly, while the lender receives a tool to predict the risk of the SMB reaching insolvency.

CRiskCo offers two solutions: for borrowers and lenders. CRiskCO Direct allows business owners to apply for a loan and connects them through smart systems with the right lenders and the right financial products for their business. CRiskCo Approve is the company’s flagship product, which targets banks and other financial institutions. It offers a white label solution for collecting financial information, processing it for underwriting at top speed and with the utmost convenience to the user.

Saf said, “Partnering with Prytek, will allow us to broaden our offered services to our existing clients in Mexico, USA, and Australia. Prytek opens up huge opportunities for us and demonstrates the trust and confidence leading industry ventures rely on”.

Prytek invests in and builds technologies (with a portfolio of 30 technology companies to date), which it delivers to the market through its own managed services divisions. Prytek’s services divisions utilize the innovative technology solutions to build competitive advantages and to benefit from significant operating efficiency. Prytek focuses on several sectors including financial services and fintech (through its UK-based arm Delta Capita); cyber security and technology training in the USA; HR-Tech and the cyber security sectors. The current financing round was led by Prytek’s technology CVC Arm which scouts for technologies to create white label products and OEM solutions for Prytek’s service divisions. Prytek’s CVC investments include, among many others: EZBOB, Scanovate, CallVU, BlackSwan Technologies, Open legacy and TipRanks.

Prytek is led and managed by Andrey Yashunsky, an entrepreneur with extensive overseas investment experience, and Arnon Shiboleth, formerly a senior executive at Apax Partners, and chairman Yair Seroussi.