KreditBee, a Bengaluru, India-based provider of a fintech platform for personal loans to professionals, raised USD80M in Series D funding.
Backers included Premji Invest, Motilal Oswal Alternates, TPG-backed NewQuest Capital Partners, Mirae Asset Ventures, and MUFG Bank.
The company intends to use the funds to diversify its product portfolio and strengthen its tech stack to serve 400 million+ middle India population on its platform.
Led by CEO Madhusudan E, KreditBee is a FinTech Platform which facilitates instant personal loans to professionals, where they can avail loans up to ₹4 lakhs as per their requirements. It currently offers multiple types of personal loans, online/offline checkout finance, and digital gold. The company further plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans, and credit lines. This involves expanding its lending portfolio by introducing financial services like insurance, credit score report, and merchant-side offers, among others.
KreditBee offers credit and other personal finance requirements through its in-house RBI-registered NBFC – Krazybee Services Private Limited (Systemically important NBFC) along with partnership with 10+ renowned financial institutions. The platform is positioned to cross an AUM of USD 1 Billion+ over the next 6 to 9 months.
FinSMEs
02/12/2022