India-based KreditBee has added another US$100 million to its series D, with primary funding from equity investor Advent International.
Madhusudan Ekambaram, KreditBee’s CEO and co-founder / Photo credit: KreditBee
In its first raise for this round last December, the startup bagged US$100 million from investors that included Mitsubishi UFJ Financial Group and Mirae Asset Venture Investments. With this latest injection, KreditBee has secured US$200 million in total investment for its series D.
Founded in 2018 by Madhusudan Ekambaram, Karthikeyan Krishnaswamy, and Wan Hong, the startup offers tech-enabled personal loans to working professionals. KreditBee finances the loan through partnerships with banks and non-bank financial companies.
It claims to have 7 million loan customers, with 3 million on active status. Its asset under management could reach US$1 billion in the next six to nine months, the company added.
“We believe KreditBee’s proprietary underwriting tech stack is one of the best in the industry and helps in its ability to identify and underwrite future prime customers at an early stage,” Shweta Jalan, managing partner at Advent International, said in a press statement.
Editing by Thu Huong Le and Eileen C. Ang
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