Fintech personal loan platform KreditBee raises $80M in Series-D investment round

• CreditBee is a fintech platform that enables instant personal loans to professionals.
  
• Include existing investors Premium InvestMO Alternates, TPG supported NewQuest Capital Partnersand Mirae Asset Ventures.
  
• The brand is targeting $1 billion in assets under management in the next 6 to 9 months.
  
• The company further plans to diversify its product offerings by venturing into digitally-enabled secured loans, home loans and lines of credit.
  

KreditBee, one of India’s leading fintech platforms, has raised $80 million as part of its ongoing Series-D investment round. The brand is currently a Series-C funded entity with cumulative fundraising in excess of $200 million.

The fintech platform enables instant personal loans for professionals where they can avail loans of up to ₹ 4 lakhs as per their requirements. The current investment saw active participation from existing investors Azim Premji’s Premji Invest, Motilal Oswal alternatesTPG-backed NewQuest Capital Partners and Mirae Asset Ventures.

The round also saw debut participation from MUFG Bank, one of the largest financial institutions in the world. Some of his other major investors include ICICI BankArkam Ventures and SIDBI’s investment arm IndiaSME Investments.

“The investment adds further weight to our vision to encourage financial independence through a smart digital experience, which India is today. With the current round, we look forward to expanding our suite of solutions to serve our growing customer base.” Madhusudan ECo-founder and CEO, said KreditBee.

The money will be used to diversify KreditBee’s product portfolio and strengthen its tech stack. The platform is targeting $1 billion in assets under management in the next 6 to 9 months.

KreditBee currently offers multiple types of personal loans, online/offline cash financing and digital gold. The company further plans to diversify its product offerings by venturing into digitally-enabled secured loans, home loans and lines of credit.

“KreditBee solves the credit needs of the growing and ambitious, yet underserved middle-income consumer of ‘Bharat’ through an innovative platform,” Vinit Mehtasaid director and head of BFSI at MO Alternate Investment Advisors.

The platform currently has 6 million loan customers, of which more than 2 million are active loan customers, the company statement claimed.

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