PE Fund Investments
Digital lender KreditBee tops up Series D round with $100-M from Advent, others
Bengaluru-based digital lending platform KreditBee (previously KrazyBee) has closed USD 200 million in its Series D round by raising an additional USD 100 million in primary funding from Advent International, Mitsubishi UFJ Financial Group (MUFG) and existing investors. The additional capital raised will be deployed towards scaling the business, as well as for diversifying product offering by venturing into digitally-enabled financial products. Led by Madhusudan E, KreditBee facilitates loan transactions between borrowers and NBFCs or banks. The company provides personal loans between INR 10,000 and INR 200,000 to young professionals for tenures ranging from 2 to 15 months. KreditBee claims to have over 3 million are active loan customers. The platform aims to cross asset under management (AUM) of more than USD 1 Billion over the next 6-9 months. Last month, the company raised tranche 1 of Series D from MUFG, Japan's largest bank, along with existing investors Premji Invest, Motilal Oswal Alternates, NewQuest Capital Partners, and Mirae Asset Venture Investments.
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