India SME Investments has recently expanded its portfolio in the BFSI segment by infusing a capital of Rs 60 Crores into the holding entity of KreditBee.
The investment comes in the form of both equity & debt. This round is a follow-up tranche
of investment from India SME after having invested Rs 28.4 Crores in September 2019 as
debt in Krazybee Services Private Limited, the RBI-backed NBFC-ND-SI which is a part of
the holding company of KreditBee, a company official here on Thursday said.
The investment news comes as a follow-up of a recent round raised by the holding group entity of KreditBee from marquee investors like Premji Invest, TPG-backed NewQuest Capital Partners, Motilal Oswal Private Equity, Mirae Asset Ventures, and Alpine Capital. KreditBee is a Fintech lending platform focused on providing financial inclusion in India via digital lending solutions in the form of Personal Loans. The platform looks to expand its lending portfolio by introducing financial services like BNPL (Buy-Now-Pay-Later) and Insurance, among others.
SIDBI backed India SME Investments focuses on investing in early-growth companies, primarily based out of/operating in Tier 2/3 cities, targeting the lower/middle-class segment and benefiting from changing consumer preferences. Its other investments include Citykart (largest value-retailer
in UP and Bihar), Kushal’s (India’s largest fashion jewelry brand), and snacking company Priniti.
India SME has been associated with KreditBee for more than 24 months and believes that the
team has a deep-rooted understanding of fintech space, wherein it has scaled its business by more
than 5x on the back of seasoned credit analytics, optimal control on CAC, and prudent product
selection.
