News around you

KreditBee closes second tranche of its Series D fundraise

Bengaluru: KreditBee, one of India’s leading fintech platforms, in an extension of its Series D round raised an additional USD 100 million in primary funding from Advent International. Advent is one of the world’s largest and most experienced private equity investors.
Last month, the company had raised Tranche one of Series D from Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, along with existing investors Premji Invest, Motilal Oswal Alternates, NewQuest Capital Partners, and Mirae Asset Venture Investments.
Avendus Capital acted as the exclusive financial advisor to KreditBee on the transaction.
The additional capital raised will be deployed towards scaling the existing business and diversifying its product offering by venturing into digitally enabled financial products, KreditBee Cofounder and CEO Madhusudan Ekambaram said.
The company serves the credit and other personal finance requirements through its in-house RBI-registered NBFC – Krazybee Services Private Limited (Systemically important NBFC) along with partnerships with over 10 renowned financial institutions.
The platform is on track to surpass an AUM of USD 1 billion over the next 6-9 months, Ekambaram said.
Advent International Managing Partner Shweta Jalan said, “We are thrilled about this partnership and to assist KreditBee to drive further value creation in its next phase of sustainable growth.”
“We look forward to supporting Madhu and his team in creating a full-service fintech platform to help meet the credit needs of India,” Advent International Director Gagan Joshi added. (UNI)

You might also like
Leave A Reply

Your email address will not be published.