"Kreditbee raises $70 mn from TPG arm, Motilal Oswal PE"

22nd Mar,2021

"Kreditbee raises $70 mn from TPG arm, Motilal Oswal PE"

Bengaluru-based Fin-tech loan specialist Kreditbee has raised USD 70 million (about Rs 500 crore) in a follow-on Series-C round from TPG-supported NewQuest Capital Partners and Motilal Oswal Private Equity. The organisation had as of late raised USD 75 million from marque financial backers Premji Invest, Mirae Asset Ventures, Alpine Capital and Arkam Ventures. The asset has been raised by Kreditbee's holding element Finnov, and a similar will be utilised for extension by growing new loaning items, and furthermore building up a disconnected internet loaning ability to connect the customer financing needs of the rustic markets.This round of gathering pledges has prompted the exit of a large portion of the beginning phase financial backers, the Fin-tech firm said. With the new capital, it hopes to scale up its loaning portfolio past close to home advances by adding other credit items, esteem added administrations, more profound channel mix and associations, Madhusudan E, fellow benefactor and CEO of Kreditbee said, adding the new items will incorporate got loaning items and protection distribution.Kreditbee, dispatched in May 2018, is centred around full-stack computerised loaning for youthful experts and has from that point forward procured more than 5 million clients and an enlisted client base of more than 25 million. It utilises more than 1,200 workers.