Bengaluru: Personal fairness fund India SME Investments on Thursday mentioned it has invested ₹60 crore, in a mixture of fairness and debt, within the holding entity of KreditBee.
Bengaluru-based fintech lending platform, KreditBee has already mopped up $145 million in capital, throughout two tranches as part of its ongoing Sequence C fundraise in March this yr.
Marquee buyers like Premji Make investments, TPG-backed NewQuest Capital Companions, Motilal Oswal Personal Fairness, Mirae Asset Ventures and Alpine Capital have participated within the startup’s ongoing Sequence C, this yr.
SIDBI-backed India SME Investments had earlier invested ₹ 28.4 crores in September 2019 as debt in Krazybee Companies Personal Restricted, which is part of the holding firm of KreditBee.
Finnov, registered in March 2016, holds Krazybee Companies Personal Restricted, a systemically essential non-banking monetary firm (NBFC-ND-SI) registered with the Reserve Financial institution of India (RBI). The group launched KreditBee in Could 2018, centered on full-stack digital lending for younger professionals.
At current, KreditBee’s digital lending platform gives private and client sturdy loans, for tenures as much as 15 months to younger professionals.
Via the fundraise, the platform appears to develop its lending portfolio by introducing monetary providers like Purchase-Now-Pay-Later ( BNPL) and insurance coverage for its person base. KreditBee can be seeking to supply secured lending merchandise on its platform.
The platform additionally plans to diversify its product providing by venturing into digitally enabled house loans and credit score traces.
In an announcement, India SME mentioned KreditBee group has deep rooted understanding of the fintech area and has scaled its enterprise by greater than 5-times on the again of seasoned credit score analytics, optimum management on buyer acquisition value and prudent product choice.
KreditBee at the moment claims to have acquired over 5 million distinctive credit score clients.
Previous to its Sequence C, KreditBee’s holding entity had raised over $43 million cumulatively in fairness from marque buyers together with ICICI Financial institution and Arkam Ventures.
By no means miss a narrative! Keep linked and knowledgeable with Mint.
our App Now!!