Total amount raised
₹28.2 Billions
Latest funding date
Location
KreditBee has successfully raised significant funding over multiple rounds, with its latest Series D round closing on March 29, 2024. The platform specializes in providing small-ticket personal loans to salaried individuals, leveraging technology and data analytics for a streamlined loan application process.
Keep reading to explore the intricacies of KreditBee's fundraising journey and the investors backing this innovative digital lending platform.
What Is KreditBee?
KreditBee, founded in 2018, is a digital lending platform based in Bangalore, India. The company specializes in providing small-ticket personal loans to salaried individuals, leveraging technology and data analytics for a streamlined loan application process.
The platform was co-founded by Karthikeyan Krishnaswamy, Madhusudan Ekambaram, Vivek Veda, and Wan Hong. KreditBee aims to make credit more accessible and convenient for its users, enabling them to apply for loans online and receive funds quickly.
With a workforce of 1001-5000 employees, KreditBee continues to grow, offering various loan products including personal loans, business loans, and loans against property. The company is committed to providing a seamless and efficient lending experience.
How Much Funding Has KreditBee Raised?
- Series C
- Amount Raised: ₹5.5B
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their digital lending platform and enhance technology capabilities.
- Series C
- Amount Raised: ₹5.1B
- Date: March 2021
- Lead Investors: Motilal Oswal Private Equity, NewQuest Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and reach more customers.
- Series C
- Amount Raised: ₹600M
- Date: June 2021
- Lead Investors: India SME Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and product development.
- Debt Financing
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and support ongoing operations.
- Series D
- Amount Raised: ₹6.5B
- Date: December 2022
- Lead Investors: Premji Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and data analytics capabilities.
- Series D
- Amount Raised: ₹9.8B
- Date: January 2023
- Lead Investors: Advent International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and introduce new loan products.
- Series D
- Amount Raised: ₹783.3M
- Date: March 2024
- Lead Investors: Wiseanya
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for an IPO and further scale operations.
Total Amount Raised: ₹28.283B. Current Valuation: $700 million.
Key Investors
- Premji Invest
- Details: Premji Invest is the private equity arm of Azim Premji's endowment. It focuses on long-term investments in various sectors.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: PolicyBazaar, Flipkart, Lenskart.
- Motilal Oswal Private Equity
- Details: Motilal Oswal Private Equity is the private equity arm of Motilal Oswal Financial Services. It invests in mid-market growth companies.
- Investment Focus Areas: Financial services, consumer, healthcare.
- Notable Investments: Dixon Technologies, GR Infraprojects, Fincare Small Finance Bank.
- Mirae Asset Venture Investment
- Details: Mirae Asset Venture Investment is a global investment firm headquartered in South Korea. It offers a range of investment products including mutual funds and private equity.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: BigBasket, Ola, Zomato.
- Wiseanya Ltd
- Details: Specific details about Wiseanya Ltd are not provided in the available sources. It led the latest funding round for KreditBee.
- Investment Focus Areas: Not specified.
- Notable Investments: Not mentioned.
- NewQuest Capital Partners
- Details: NewQuest Capital Partners is a private equity firm specializing in secondary investments in the Asia-Pacific region. It provides liquidity solutions to private equity asset owners.
- Investment Focus Areas: Secondary private equity investments, liquidity solutions.
- Notable Investments: Ujjivan Financial Services, Bira 91.
What's Next for KreditBee?
As KreditBee looks to the future, the opportunities are vast. With over 7 million customers and Rs 30,000 crore in credit disbursed, the company is poised to expand its product offerings, including gold loans and loans against property. The potential for an IPO also looms large, promising significant fundraising opportunities to fuel further growth.
However, the path forward is not without challenges. The digital lending space is fiercely competitive, with rivals like Navi and EarlySalary. Regulatory changes and maintaining profitability while scaling operations will be critical hurdles. Yet, with a strong track record and continued investor interest, KreditBee is well-positioned to navigate these challenges and seize the opportunities ahead.
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