Synopsis
The funding is part of a Series C round, in which Kreditbee earlier this year raised about $145 million from the likes of Premji Invest, Mirae Asset Ventures, TPG-backed NewQuest Capital Partners and Motilal Oswal Private Equity.
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KreditBee specialises in offering personal loans through its digital platform to blue-collar workers and the self-employed.
Mumbai:KreditBee has raised Rs 60 crore (about $8 million) in equity and debt from SIDBI’s investment arm India SME Investments, the
The funding is part of its Series C round, in which the startup earlier this year raised about $145 million from the likes of Premji Invest, Mirae Asset Ventures, TPG-backed NewQuest Capital Partners and Motilal Oswal Private Equity. India SME invested Rs 28.4 crore in September 2019 as debt in Krazybee Services, the holding company of KreditBee.
KreditBee gets $75 million in Series C funding from PremjiInvest, others
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Synopsis
With this funding round, KreditBee’s parent firm Finnov has cut its backing by China-based investors including Xiaomi, Shunwei Capital and Kunlun to about 10% from the earlier 40%.
Digital lending startup KreditBee has secured an investment of $75 million (Rs 544 crore) in a Series C round which saw participation of Azim Premji’s PremjiInvest and South Korea’s Mirae Asset Venture.
The equity round also saw participation of US-based Alpine Capital and Arkam Ventures at an undisclosed amount, the company said in a statement shared with ET.
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