Fintech lending startup KreditBee has raised about $8 million (Rs 60 crore) in equity and debt funding from India SME Investments, a private equity fund backed by the Small Industries Development Bank of India (SIDBI).
The latest infusion is a follow-up tranche of investment from India SME into the firm. India SME first invested Rs 28.4 crore in September 2019 as debt in Krazybee Services Private Limited, which is an RBI-backed non-deposit taking systematically important non-banking financial company (NBFC-ND-SI) and part of the holding company of KreditBee.
In February, KreditBee had concluded its Series C funding round of $75 million, which saw the participation of Premji Invest, TPG-backed NewQuest Capital Partners, Mirae Asset Naver Asia Growth Fund, Alpine Capital and Motilal Oswal Private Equity.
India SME said it has been associated with KreditBee for more than 24 months, and that KreditBee has scaled its business by over 5X on the back of seasoned credit analytics, optimal control on CAC, and prudent product selection.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from June 1-3, 2021.
