Premji Invest, Mirae Asset, others put $75M in lending startup KreditBee

By: |
February 15, 2021 12:22 PM

"With a larger portfolio of loan products, our objective is to provide credit to over 180 million new-to-credit customers who were not provided formal credit earlier.

KreditBee, Premji Invest, Mirae Asset Naver Asia Growth Fund, Alpine Capital and Arkam Ventures, Investment on KreditBee, Bangaluru based fintech lending startup KreditBeeKreditBee has previously raised over USD 43 million cumulatively in equity from investors including ICICI Bank and Arkam Ventures.

Bengaluru-headquartered fintech lending startup KreditBee has concluded its Series C equity round worth USD 75 million from Premji Invest, Mirae Asset Naver Asia Growth Fund, Alpine Capital and Arkam Ventures consisting of both primary and secondary investment.

“With a larger portfolio of loan products, our objective is to provide credit to over 180 million new-to-credit customers who were not provided formal credit earlier. This investment would help us take more positive steps towards achieving that,” Co-Founder & CEO of KreditBee Madhusudan E said.

The holding entity has previously raised over USD 43 million cumulatively in equity from investors including ICICI Bank and Arkam Ventures, it noted in a statement on Monday. Registered in March 2016, the group entity also holds Krazybee Services Private Limited, Systemically important non-deposit taking non-banking financial company (NBFC-ND-SI) registered with the Reserve Bank of India since May 2017.

The group launched KreditBee in May 2018, focused on full-stack digital lending for young professionals. The platform specialises in providing digital personal loans and consumer durable loans to both salaried and self-
employed.

The platform plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans and credit line.

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