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KreditBee | KreditBee issues over 100000 cards | India SME expands its Fintech Portfolio with 60 Cr investment in KreditBee

KreditBee issues over 100000 cards

India SME expands its Fintech Portfolio with 60 Cr investment in KreditBee

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The investment comes in the form of both equity & debt investment, and follows a ₹1,070 Crore Series-C round concluded in Feb 2021

June 3, 2021: India SME Investments has recently expanded its portfolio in the BFSI segment by infusing a capital of 60 Crores into the holding entity of KreditBee. The investment comes in the form of both equity & debt. This round is a follow-up tranche of investment from India SME after having invested ₹ 28.4 Crores in September 2019 as debt in Krazybee Services Private Limited, the RBI-backed NBFC-ND-SI which is a part of the holding company of KreditBee.

The investment news comes as a follow-up of a recent round raised by the holding group entity of KreditBee from marquee investors like Premji Invest, TPG-backed NewQuest Capital Partners, Motilal Oswal Private Equity, Mirae Asset Ventures and Alpine Capital. KreditBee is a Fintech lending platform focused on providing financial inclusion in India via digital lending solutions in the form of Personal Loans. The platform looks to expand its lending portfolio by introducing financial services like BNPL (Buy-Now-Pay-Later) and Insurance, among others.

SIDBI backed India SME Investments focuses on investing in early-growth companies, primarily based out of/operating in Tier 2/3 cities, targeting the lower/middle-class segment and benefiting from changing consumer preferences. Its other investments include Citykart (largest value-retailer in UP and Bihar), Kushal’s (India’s largest fashion jewellery brand), and snacking company Priniti. India SME has been associated with KreditBee for more than 24 months and believes that the team has deep rooted understanding of the fintech space, wherein it has scaled its business by more than 5x on the back of seasoned credit analytics, optimal control on CAC, and prudent product selection.

Tags: India SMEKreditBee
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