Instant Personal Loan platform, KreditBee has secured $70 million more in Series C funding round. The second tranche of Series C funding round was led by NewQuest Capital Partners along with Motilal Oswal Private Equity.
KreditBee is for self-employed and salaried professional who can apply for a Personal Loan starting from ₹ 1,000 up to ₹ 2 Lakhs as per their requirement.
It aim to become the first choice when it comes to quick and convenient Personal Loans. The documentation required is very minimal, and the entire process – starting from registration on its app to loan disbursement does not take more than 15 minutes. The application process is completely online, and upon approval, the cash is immediately transferred to the bank account of the user.
It offers loans in varying ticket sizes and repayment tenures, to suit all unpredictable financial needs. As an internet platform, it hosts multiple non-banking financial companies (NBFCs) who have a license from the Reserve Bank of India (RBI). This includes KrazyBee Services Private Limited and other platform partners.
KreditBee was started by a group of individuals from prestigious institutions such as IIT, IIM, and NUS among others, to solve the issue of easy credit among young professionals in India.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.