Fintech company Kissht on Thursday said it has raised Rs 100 crore in a funding round led by Trifecta Capital and Northern Arc. In the current round, Trifecta and Nothern Arc have each subscribed to Rs 50 crore of non-convertible debentures (NCDs), according to a statement.
The company has so far raised over Rs 270 crore in equity and over Rs 1,200 crore in debt investments. The company said the funds will be utilised to expand its scale of operations. It will also further enhance its product offerings, including credit cards for small businesses/ shops and improve underwriting capabilities to extend credit to the new to credit (NTC) segment using AI and machine learning.
The firm plans to expand its business to one crore borrowers in FY2023, the statement said. It is projecting an overall revenue of over Rs 500 crore, it said. The company provides an instant line of credit for small business transactions and small-ticket size personal loans to new credit customers.