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.