KreditBee extends Series D funding round with additional $100m
Indian fintech platform KreditBee has bagged an additional $100 million from Advent International in its extended Series D funding round.
KreditBee raises additional $100m
The news follows KreditBee’s $80 million fundraise as part of its Series D round last month, which saw participation from existing investors Premji Invest, Motilal Oswal Alternates, NewQuest Capital Partners, and Mirae Asset Ventures, as well as new investor MUFG Bank.
The lender says it will use the fresh funds to scale its existing business and diversify its product offerings to include digitally-enabled financial products.
KreditBee was founded in 2018 and is headquartered in Bengaluru, India. It offers “instant” personal loans to professionals of up to INR 400,000 (approximately $5,000), with the goal of solving the financial inclusion gap across the country.
Commenting on the fundraise, Madhusudan Ekambaram, co-founder and CEO of KreditBee, says: “This reinforces the confidence in our profitable business model and its long-term sustainability.
“The latest round will help us to achieve our vision of serving the over 400 million middle-income population in the country,” he adds.
The latest investment brings the start-up’s total capital raised to date to nearly $400 million.
