KreditBee has raised $75 million in its latest investment round. The Series C funding round was led by PremjiInvest of Azim Premji and Mirae Asset Venture.
“With a larger portfolio of loan products, our objective is to provide credit to over 180 million new-to-credit (NTC) customers who were not provided formal credit earlier. This investment would help us take more positive steps towards achieving that,” KreditBee CEO and co- founder – Madhusudan Ekambaram said.
KreditBee is an Instant Personal Loan platform for self-employed and salaried professionals, where they 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.