PE Fund Investments
Digital lending platform KreditBee raises $20-M led by Premji Invest
Bengaluru-based digital lending platform KreditBee (previously KrazyBee) has initiated its Series D round with a USD 20 million fundraise led by existing investor, PremjiInvest. Premji Invest Opportunities led the round with INR 59 crore (USD 7.2 million) while existing investor Motilal Oswal PE-managed India Business Excellence Fund invested INR 47 crore (USD 5.8 million). NewQuest Asia, Mirae Assets, and MUFG bank also participated in the round, collectively putting in INR 59 crore (USD 7.28 million). Post-transaction, Premji Invest will hold 5.09% of the stake while IBEF, NewQuest Asia, Mirae Asset and MuFC bank will command 4.10%, 1.72%, 1.51%, and 1.86% of the capital in the company. Led by Madhusudan E, KreditBee facilitates loan transactions between borrowers and NBFCs or banks. The company provides personal loans to young professionals in the range of INR 10,000 to INR 200,000 for a tenure ranging between 2 and 15 months.
From the Venture Intelligence PE-VC Deal Database: Between Mar 16 and Jun 21, KrazyBee had raised over USD 272 M from Xiaomi, Shunwei Capital, Arkam Ventures, PremjiInvest, Mirae Asset Global Investments, SIDBI VC, Motilal Oswal and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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