About Scratch Financial
Scratch focuses on loan servicing, providing a platform that simplifies the repayment process for borrowers and offers insights for lenders. Borrowers can manage their loans through features like making payments, setting up autopay, changing due dates, and tracking their loan progress. For lenders, Scratch offers tools that allow them to innovate and expand their portfolios, accommodating various asset classes. The company earns revenue by charging service fees to lenders who use their platform. Scratch aims to empower borrowers to maintain financial health while helping lenders efficiently enter the market with a dependable servicing partner.
San Francisco, CaliforniaHeadquarters
2015Year Founded
$19.5MTotal Funding
LATE_VCCompany Stage
Fintech, Financial ServicesIndustries
11-50Employees
Benefits
Medical, dental, & vision
Monthly wellness benefit
401k
Flexible vacation policy
Parental leave
Professional development stipend
Tech equipment stipend
Company & team activities
Risks
Increased competition from emerging fintech startups could erode Scratch's market share.
Rising interest rates may decrease loan origination, impacting Scratch's revenue.
Data privacy concerns could lead to increased compliance costs for Scratch.
Differentiation
Scratch offers a comprehensive platform for both borrowers and lenders.
The company provides tools for lenders to innovate and expand their portfolios.
Scratch focuses on simplifying the repayment process for borrowers.
Upsides
Increased demand for digital loan servicing platforms benefits Scratch.
Growing interest in AI-driven insights aligns with Scratch's offerings.
Rising consumer preference for mobile-first solutions supports Scratch's platform capabilities.
Funding
Total raised$19.45 M
Latest valuation$85.00 M
StageLATE_VC
LATE VC
8/31/2018$17
$85.00 M$3
$15.00 M