Personal loans fintech platform KreditBee raises $80 million in Series-D investment round

• KreditBee is a fintech platform which facilitates instant personal loans to professionals.
  
• Existing investors include Premji Invest, MO Alternates, TPG-backed NewQuest Capital Partners, and Mirae Asset Ventures.
  
• The brand aims to cross an AUM of $1 billion over the next 6 to 9 months.
  
• The company further plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans, and credit lines.
  

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

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

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

“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 expanding our set of solutions to serve our growing consumer base,” Madhusudan E, Co-Founder & CEO, KreditBee said.

The funds will be used to diversify KreditBee’s product portfolio and strengthen its tech stack. The platform aims to cross an AUM of $1 billion over the next 6 to 9 months.

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

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

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

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