With major investment coming from equity investor Advent International, Indian startup KreditBee has increased its series D capital by an additional $100 million USD.
The business received US $100 million from investors including Mitsubishi UFJ Financial Group and Mirae Asset Venture Investments in its initial investment for this round last December. With this most recent infusion, KreditBee has now raised a total of $200 million for its series D.
The firm, which was established in 2018 by Madhusudan Ekambaram, Karthikeyan Krishnaswamy, and Wan Hong, provides working people with tech-enabled personal loans. Partners with banks and non-bank financial institutions help KreditBee finance the loan.
3 million of its 7 million loan clients are reportedly active. The business claimed that its asset under management might exceed $1 billion within the next six to nine months.
“We believe KreditBee’s proprietary underwriting tech stack is one of the best in the industry and helps in its ability to identify and underwrite future prime customers at an early stage,” Shweta Jalan, managing partner at Advent International, said in a press statement.
