Fintech lending company Kreditbee has seen a 66% growth in net profit at Rs 473 crore in FY25, compared to Rs 285 crore in FY 24, according to a couple of sources who have seen the data.
The Bengaluru-based company, founded in 2018, has also recorded a 40% growth in revenue to Rs 2,712 crore from Rs 1,948 crore in FY 24.
Founded by Madhusudan Ekambaram, Vivek Veda, and Karthikeyan Krishnaswamy, the profits put the company among the most profitable fintechs in the country.
The company's loan disbursement value touched Rs 25,000 crore in FY 25, with its total AUM crossing Rs 10,000 crore during the period.
Kreditbee did not respond to Moneycontrol queries regarding the company’s financials.
Kreditbee has raised $100 million in January 2023 in its Series D funding round from private equity firm Advent International, a month after announcing $80 million in funding from existing investors Premji Invest, Motilal Oswal Alternates, TPG-backed NewQuest Capital Partners, and Mirae Asset Ventures.
The company has raised close to $400 million in capital so far and was last valued at $700 million.
The strong performance has seen credit rating agencies Crisil and Care upgrading the company’s rating from A- to A, one of the sources mentioned above said.
“The company’s good performance is even more striking as it comes at a time when multiple small finance banks and microfinance institutions struggled with bad loans and reported a sharp drop in profitability,” one of the sources said.
Over the last 18 months, the banking regulator Reserve Bank of India (RBI) has been asking all financial institutions to reduce their exposure to unsecured lending, citing indebtedness among customers taking small-ticket loans.
Kreditbee, which has a non-banking financial company called Krazybee Services, mostly disburses personal loans up to Rs 5 lakh. Its AUM has grown by five times in the last three years, representing a 72 percent compounded annual growth rate in AUM during the period.
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