Fintech lending platform KreditBee’s holding entity, Finnov has raised an additional $70 million in a follow-on Series C round from TPG-backed NewQuest Capital Partners and Motilal Oswal Private Equity.
“The conclusion of this round has led to an exit of most of the early-stage investors,” KreditBee said in a statement on Monday, adding that the holding entity had recently raised $75 million from marque investors Premji Invest, Mirae Asset Ventures, Alpine Capital and Arkam Ventures.
“With the new capital influx, the entity looks to scale up its lending portfolio beyond personal loans into other lending products, value-added services, deeper channel integrations and partnerships,” it further said.
KreditBee was launched in May 2018 and has acquired over 50 lakh unique credit customers.