KreditBee raises additional $100 Mn in Series D funding led by Advent International
- ByStartupStory | January 6, 2023
Fintech platform KreditBee has raised an additional $100 million in its Series D round from private equity firm Advent International. In the last two months, the Bangalore-based company has raised $180 million.
In December, KreditBee received an initial $80 million investment from Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, as well as existing investors Premji Invest, Motilal Oswal Alternates, NewQuest Capital Partners, and Mirae Asset.
The additional capital raised will be used to scale the existing business and diversify its product offering by venturing into digitally enabled financial products, according to a press release from KreditBee.
The company meets credit and other personal finance needs through its own NBFC, Krazybee Services Private Limited, as well as partnerships with more than ten financial institutions. According to KreditBee, the platform will exceed $1 billion in assets under management within the next 6-9 months.
KreditBee is an Instant Personal Loan platform for self-employed and salaried professionals, where they can apply for a Personal Loan ranging from Rs. 1,000 to Rs. 3 lakhs, depending on their needs. The loan platform aims to be the first choice for quick and convenient Personal Loans.
It was founded in 2018 by Madhusudan Ekambaram, Karthikeyan Krishnaswamy and Wan Hong. The company is headquartered in Bangalore, Karnataka, India.
KreditBee currently claims 7 million loan customers, of which over 3 million are active loan customers.
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