KreditBee raises $80 Million Series D round led by Premji Invest
Digital lending platform KreditBee has raised $20 million in Series D funding. This round was led by Azim Premji’s Premji Invest. Motilal Oswal Alternates, TPG-backed NewQuest Capital Partners, Mirae Asset Ventures, and MUFG Bank also participated in the funding round.
Freshly raised funds will be used to diversify and strengthen the tech stack. The company also aims to cross an AUM of $1 billion in the next six to nine months.
“With the current round, we look forward to expanding our set of solutions to serve our growing consumer base,” said Madhusudan E, co-founder, and chief executive, KreditBee.
“The investment adds more weight to our vision of encouraging financial independence through a smart digital experience, which is what India stands for today. With the current round, we look forward to expand our set of solutions to serve our growing consumer base,” he further added.
KreditBee was founded in 2016 and offers credit and other personal finance services. The company has partnered with over 10 financial institutions to offer credit to customers. It boasts to have 6 million loan customers.
This was the first fund raising of KreditBee in 2022. The company raised $70 million in March last year and $75 million in early 2021 in the Series C round. KreditBee has raised over $280 million to date