KreditBee Closes Second Tranche Of Its USD 200 Million Series D Fundraise
KreditBee, one of India’s leading fintech platforms, in an extension of its Series D round raised an additional USD 100 million in primary funding from Advent International (“Advent”), one of the world’s largest and most experienced private equity investors. Last month, the company had raised Tranche one of Series D from Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, along with existing investors Premji Invest, Motilal Oswal Alternates, NewQuest Capital Partners, and Mirae Asset Venture Investments. Avendus Capital acted as the exclusive financial advisor to KreditBee on the transaction.
The additional capital raised will be deployed towards scaling the existing business and diversifying its product offering by venturing into digitally enabled financial products. The company serves the credit and other personal finance requirements through its in-house RBI-registered NBFC – Krazybee Services Private Limited (Systemically important NBFC) along with partnerships with over 10 renowned financial institutions. The platform is on track to surpass an AUM of USD 1 billion over the next 6-9 months.