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KreditBee Raises $80 Million In Series D Funding

KreditBee aims to cross an AUM (asset under management) of USD 1 Billion+ over the next 6 to 9 months

KreditBee Raises $80 Million In Series D Funding
POSTED ON December 03, 2022 10:13 AM

KreditBee, a fintech platform, has secured $ 80 million as a part of its ongoing Series-D investment round. The investment round saw participation from existing investors Azim Premji’s Premji Invest, Motilal Oswal Alternates, TPG-backed NewQuest Capital Partners and Mirae Asset Ventures. Additionally, MUFG Bank also participated in the investment round. 

KreditBee will utilise the this captal to diversify its product portfolio and strengthen its tech stack to serve more than 400 million population on its platform. 

Known for offering credit and other personal finance requirements through Krazybee Services (an in-house RBI-registered non-banking financial corporation), the company claims to have six million loan customers, including two million active ones, it said in a press statement. 

KreditBee wants to achieve $1 billion in assets under management (AUM) in the next six to nine months. 

Talking about the development, Madhusudan E, co-founder and chief executive officer (CEO) of KreditBee said, “The investment adds more weight to our vision of encouraging financial independence through a smart digital experience, which is what India stands for today. With the current round, we look forward to expanding our set of solutions to serve our growing consumer base.”

Shashank Joshi, deputy CEO and head of global corporate banking at MUFG India said, "KreditBee runs with the ethos of enabling underserved customers easy access to financial products through tech-enabled underwriting. We are very excited to partner with KreditBee in their growth journey of providing financial services to millions of customers."

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