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KreditBee - Series D
Overview
Funding Date
January 6, 2023
Financing amount
$200M
Valuation
--
Category
Subcategory
About KreditBee - Series D
KreditBee has extended its Series D funding round with a $100 million investment from private equity giant Advent International. The Advent money tops up the first tranche one of the Series D, which also raised $100 million and saw participation from Japan's Mitsubishi UFJ Financial Group along with existing investors Premji Invest, Motilal Oswal Alternates, NewQuest Capital Partners, and Mirae Asset Venture Investments.
The company plans to use the funding to scale the existing business and diversify its product offering by venturing into digitally-enabled financial products.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 1984 | 2 | -- | ||
| Fund | Japan | 1974 | 2 | -- | ||
| Fund | India | -- | 2 | -- | ||
| Corporate | India | 1987 | 1 | -- | ||
| Corporate | Hong Kong | 2011 | 1 | -- | ||
| Fund | Korea (the Republic of) | 1997 | 10 | -- |
Founders & Team
Madhusudan E
Company Profile / Project Introduction
KreditBee is a FinTech Platform which offers instant personal loan to professionals, where they can avail loans up to ₹3 lakhs as per their requirement. With a strong focus on online tech-based and data-centric KYC, KreditBee envisions to solve the financial inclusion gap in the varied demographic segments of the country. The platform is backed by a Systemically Important NBFC Krazybee Services Private Limited, registered with RBI since May 2017, as well as various debt & platform partners. KreditBee is a brand of Finnovation Tech Solutions Pvt Ltd and is currently a Series-C funded entity with a cumulative fundraise of over USD 200 Million. It is backed by some key VC firms and investment entities like Azim Premji’s Premji Invest, Motilal Oswal Private Equity, TPG-backed NewQuest, South Korea’s Mirae Asset Venture, and US-based Alpine Capital. Some other marquee investors include ICICI Bank, Arkam Ventures and SIDBI’s investment arm IndiaSME Investments. Also, it has various debt partners like AU Small Finance Bank, HSBC, Fullerton, and IIFL. Currently, it has 5 million loan customers, out of which over 2 million are active loan customers.