INDIA – KreditBee, a Bengaluru, India-based fintech platform, raised $100M in funding in an extension of its Series D round.
The round was led by Advent International.Last month, KreditBee had raised Tranche one of Series D from Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, along with existing investors Premji Invest, Motilal Oswal Alternates, NewQuest Capital Partners, and Mirae Asset Venture Investments.The company intends to use the funds to scale the existing business and diversify its product offering by venturing into digitally enabled financial products.Led by CEO Madhusudan Ekambaram, KreditBee facilitates digitally enabled personal loans to professionals, where they can avail loans up to ₹4 lakhs as per their requirements. The company serves the credit and other personal finance requirements through its in-house RBI-registered NBFC – Krazybee Services Private Limited along with partnerships with over 10 financial institutions. The platform is on track to surpass an AUM of USD 1 billion over the next 6-9 months. It currently has 7 million loan customers, out of which over 3 million are active loan customers.06/01/2023
