Scienaptic AI, a New York-based AI-driven credit underwriting platform, has secured strategic equity investments from six credit union clients.

The investment comes from ELGA Credit Union, Wildfire Credit Union, 4Front Credit Union, CoVantage Credit Union, Credit Union of Colorado, and People Driven Credit Union, covering Michigan, Colorado, Wisconsin, and Northern Illinois.

This funding will enhance their credit origination and lifecycle management solutions to promote financial inclusion and improve member experiences.

Founded by CEO Pankaj Kulshreshtha in 2014, Scienaptic AI integrates diverse data sources, advanced machine learning algorithms, and comprehensive risk and fair lending monitoring. Over 145 lenders use its platform, which has processed $76 billion in applications.