Fintech Firm Kreditbee Raises $80 Million
With this, the company has so far raised over $280 million.
Fintech player Kreditbee on Friday said it has raised $80 million (about Rs 651 crore) as part of its ongoing funding round.
The Series-D funding round saw participation from Japanese financial major MUFG Bank and existing investors like Premji Invest, Motilal Oswal Alternates, TPG-backed NewQuest Capital Partners, and Mirae Asset Ventures.
In February 2021, the Bengaluru-based startup had raised $75 million in Series-C round led by Azim Premji family office PremjiInvest and a few China-based investors, including Xiaomi, Shunwei Capital and Kunlun.
The platform is also backed by the U.S.-based Alpine Capital apart from ICICI Bank, Arkam Ventures, and Sidbi's investment arm India SME Investments.
With this, the company has so far raised over $280 million.
Kreditbee's parent firm Finnov, in a statement on Friday, said the funds will be used to diversify its product portfolio and strengthen tech stack to serve its 400 million customers and over 6 million loan customers.
Madhusudan E, co-founder and chief executive of Kreditbee, expects the platform will cross an AUM of $1 billion over the next two-three quarters.
The company offers multiple types of personal loans, online/offline checkout finance, and digital gold.