PE Fund Investments
B2C lender Kissht raises $80-M from Vertex Growth, others
Mumbai-based consumer lending fintech firm Kissht has raised USD 80 million as part of a fresh funding round led by Vertex Growth and Brunei Investment Agency at a valuation of USD 500 million. Existing investors Vertex Ventures SEA India and Endiya Partners also participated in the round. Kissht will use the new funds to enhance its product design, scale up card issuances to 10 million in the next 12-18 months and invest towards increasing its book size, while improving its technology backend. The company will foray into the challenger card segment, where it will issue its buy-now-pay-later cards called Ring in association with RBL and SBM Bank to customers linked with a credit line. Kissht will issue these cards through its non-banking finance company (NBFC) arm.
From the Venture Intelligence PE-VC Deal Database: Between Jun-2016 and Sep-2018, Kissht had raised almost USD 40 M from Fosun Group, Sistema Asia Fund, Endiya Partners, Vertex, Ventureast and Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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