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India’s Kreditbee Raises $80 Million From Azim Premji’s Premji Invest, Motilal Oswal Alternates, Among Others

Dec 02, 2022•about 3 years ago

Amount Raised

$80 Million

BengaluruFinancial Services

Description

The digital loans business in India has been the subject of a lot of controversy, not least for over-predatory and un-transparent practices, yet that’s existed alongside the rise of a handful of startups that hoping to apply tech to build products that are clearly understood and fill a need in the market for quick, short-term access to capital. Today, one of these — KreditBee, which provides instant personal loans to users — is announcing that it has raised $80 million in a Series D funding round.

Company Information

Company

KreditBee

Location

Bengaluru, Karnataka, India

About

KreditBee is a FinTech Platform which facilitates instant personal loans to professionals, where they can avail loans up to ₹4 lakhs as per their requirement. With a strong focus on online tech-based and data-centric KYC, KreditBee envisions solving the financial inclusion gap in the varied demographic segments of the country. The platform is a Series-D funded entity, backed by Advent International, Premji Invest, Motilal Oswal Alternates, TPG-NewQuest, Mitsubishi UFJ Financial Group, ICICI Bank and Mirae Asset Venture Investments. The company serves the credit and other personal finance requirements through its in-house RBI-registered NBFC - Krazybee Services Private Limited (Systemically important NBFC) along with partnerships with over 10 renowned financial institutions. The company currently serves 10 million customers across the country.

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Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech