Kissht, an instant credit platform, has raised ₹100 crore in the funding round led by Trifecta Capital and Northern Arc. The company will utilize the funds to expand its scale of operations by branching out to smaller cities.

In the current round, Trifecta and Nothern Arc have each subscribed to ₹50 crore of Non-Convertible Debentures (NCDs). The company has so far raised over ₹270 crore in equity and over 1,200 crore in debt investments.

Kissht is an instant line of credit platform catering to the lower mass market and small/micro- business segment in India.

Krishnan Vishwanathan, Co-Founder, Kissht, said, “Our aim at Kissht is to bring instant, hassle-free credit on the back of our self- learning, strong underwriting and collection capabilities paving the way for lower income and small-business owner segments. This funding will further aid our goal of removing financial constraints, expanding our footprint across tier-2 centres in India.”

Enhancing product offerings

The company will utilize the funds to expand its scale of operations, further enhance its product offerings including credit cards for small business/shops and further improve underwriting capabilities to extend credit to New to Credit (NTC) segment using Artificial Intelligence (AI) and machine learning even in smaller tier towns of India, where instant credit hasn’t reached yet.

“Kissht is catering to a large and untapped opportunity in India today, and has demonstrated leadership in this segment through focused customer acquisition, underwriting prowess, control on credit costs and innovative collection processes” Rahul Khanna, Managing Partner, Trifecta Capital, said.

Kissht plans to expand its business to 10 million unique borrowers and total transaction-liked credit volume to ₹ 10,000 crore in the financial year 2023.

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