Private Equity

VC Fund Investments

Fintech startup Credilio raises $4-M from Cornerstone, Exfinity, others

India Education Diary  

Mumbai-based personal finance player Credilio has raised USD 4 million (INR 30 crore) in a pre-series A funding round from investors including Cornerstone Venture Partners Fund (CSVP Fund), Exfinity Venture Partners and Mukul Agarwal (founder of Param Capital). The firm aims to use the funds to achieve an ARR of INR 100 crore by March 2023 and serve 25 million customers in the next 3 years. Credilio helps financial advisors educate customers and recommend products that are best suited to meet their personal credit requirements, and also facilitate digital onboarding of credit cards & loans. It claims to have over 10,000 active financial advisors pan-India and 5+ lakh customer applications processed digitally for 20+ leading banks & non-banking finance companies. Credilio is founded by Aditya Gupta, Sandeep Ghule and Anand Kapadia who had exited their first venture TranServ - in the B2B digital payments B2B segment - in March 2019 (via sale to Indiabulls Consumer Finance).