Money & Banking

KreditBee secures $75 m Series C funding

Our Bureau. Mumbai | Updated on February 15, 2021

Fintech lending start-up KreditBee recently concluded its Series C equity round worth $75 million from Premji Invest, Mirae Asset Naver Asia Growth Fund, Alpine Capital and Arkam Ventures, consisting of both primary and secondary investment.

“The holding entity had previously raised over $43 million cumulatively in equity from marque investors, including ICICI Bank and Arkam Ventures,” it said in a statement on Monday.

The company provides digital personal loans and consumer durable loans to both salaried and self-employed. The loan amount disbursed is up to ₹2 lakh and can be for a period from two to 15 months.

Madhusudan E, co-founder and CEO, KreditBee, said: “With a larger portfolio of loan products, our objective is to provide credit to over 18 crore new-to-credit customers who were not provided formal credit earlier. This investment would help us take more positive steps towards achieving that.”

The company has a user base of over two crore with over 40 lakh credit customers. It plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans and credit line.

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Published on February 15, 2021
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