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KreditBee raises $80 million in Series D round from existing investors

KreditBee will use the funds to venture into secured loans, home loans, and credit lines. It will also add financial services like insurance, credit score report, and merchant-side offers, among others.

December 02, 2022 / 04:08 PM IST
Representative image.

Representative image.

Fintech platform KreditBee has raised $80 million from existing investors Azim Premji’s Premji Invest, Motilal Oswal Alternates, TPG-backed NewQuest Capital Partners, and Mirae Asset Ventures, the company said on December 2. Japan's MUFG Bank joined in as a new investor in the round.

The company said that the funds will be used to diversify KreditBee’s product portfolio and strengthen its tech stack.

The platform facilitates personal loan disbursals of up to Rs 4 lakh to salaried individuals through its partner non-banking financial companies (NBFCs) including IIFL Finance, Northern Arc Capital, Vivriti Capital, Poonawala Fincorp, PayU Finance, Piramal Finance, among others.

The company also has its own in-house RBI-registered NBFC Krazybee Services, which also lends to customers on the platform. Besides personal loans, the company also offers checkout finance options and digital gold.