Sxored just raised an undisclosed funding round from East Ventures to speed up development of its AI-powered credit document analysis platform.
The Indonesia-based startup targets the booming lending market, worth over US$10.3 billion in total loans last year, with a focus on cutting fraud and costs through automation.
Sxored uses intelligent OCR plus an AI copilot to extract and analyze e-statement data from major Indonesian banks. It runs 10+ fraud detection checks and creates quick borrower summaries. The platform also speeds up property collateral appraisals with market value and nearby asset mapping. 
The startup aims to slash slow, manual document reviews that plague lenders and fintechs in Indonesia.
Cyrill James Hardie, CEO of Sxored, said:
“Most lenders in Indonesia still verify documents the old way by manually reviewing PDFs and hoping nothing is missed.
We built Sxored to eliminate that guesswork.
With our system, banks, fintechs, and even VCs and auditors can underwrite faster, detect fraud more accurately, and serve more customers with less risk”
Sxored was founded in June 2024 by a team including Hardie and Ben Lawson (CSO), with roots in a fintech acquired in 2020. It now has eight employees and 10 ongoing pilot projects. Demand also comes from digital lenders, VCs, and auditors.
Wesley Tay, Principal at East Ventures, commented on the investment:
“We believe in Sxored’s mission to modernize lending infrastructure and improve risk management.
Their AI-driven platform is well-positioned to help solve deep-rooted pain points in financial services.
We look forward to supporting their growth as they scale,”
Funds will go toward improving AI/ML models for templateless documents, expanding financial reporting features, and scaling services to more clients and use cases.
