Total amount raised
$4 Millions
Latest funding date
3/1/2022
Location
Credilio has successfully raised funds through a seed round, attracting notable investors such as Exfinity Venture Partners and Cornerstone Venture Partners Fund. The platform offers a range of financial products, including loans, credit cards, and advisory services.
Keep reading to explore the intricacies of Credilio's fundraising journey and the investors backing this innovative platform.
What Is Credilio?
Founded in 2020, Credilio is a digital financial platform based in Mumbai, Maharashtra, India. The company was established by Aditya Gupta and focuses on offering a variety of financial products and services.
Credilio provides loans, credit cards, and advisory services to individuals and families, aiming to simplify personal finance. The platform connects banks, financial advisors, and consumers through its technology-driven solutions.
With a team of 101-250 employees, Credilio continues to grow and innovate in the financial technology sector, making personal finance more accessible and manageable for its users.
How Much Funding Has Credilio Raised?
- Seed Round
- Amount Raised: $4M
- Date: March 2022
- Lead Investors: Exfinity Venture Partners, Cornerstone Venture Partners Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch operations and achieve a $1 million mark in ARR within six months of being operational.
Total amount raised: $4M. Current valuation: Not publicly disclosed.
Key Investors
- Exfinity Venture Partners
- Details: Exfinity Venture Partners is a venture capital firm that invests in early-stage technology companies. They focus on companies that can bring innovative solutions to market.
- Investment Focus Areas: Technology, FinTech, Enterprise Software
- Notable Investments: Not publicly disclosed
- Cornerstone Venture Partners Fund (CSVP Fund)
- Details: Cornerstone Venture Partners Fund is a venture capital fund that invests in early-stage companies with a strong product-first approach. They aim to support startups that can innovate and scale rapidly.
- Investment Focus Areas: Enterprise & SMB SaaS, FinTech, Technology
- Notable Investments: Not publicly disclosed
- Mukul Agarwal (Param Capital)
- Details: Mukul Agarwal is the founder of Param Capital and invested in Credilio in his personal capacity. He is known for his strategic investments in promising startups.
- Investment Focus Areas: FinTech, Technology, Startups
- Notable Investments: Not publicly disclosed
What's Next for Credilio?
Credilio's future looks promising as it aims to serve 25 million customers and achieve an ARR of Rs 100 crore by 2023. The company plans to expand its presence in tier II and III cities, leveraging evolving API stacks from banks and NBFCs. This expansion, coupled with the introduction of platform access in seven regional languages, presents a significant growth opportunity.
To support these ambitious goals, Credilio may seek additional funding rounds. The need for continuous technological enhancements and market expansion suggests that future fundraising is likely. However, the company will face challenges such as scaling its technology platforms, navigating regulatory requirements, and competing with other fintech startups. Ensuring the seamless integration of advanced analytical tools and upskilling a large number of financial advisors will also be critical to its success.
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