HomeFintechKreditBee raises an additional $70 mn from NewQuest Capital and Motilal Oswal Private Equity

KreditBee raises an additional $70 mn from NewQuest Capital and Motilal Oswal Private Equity

Reader's Pick

Bengaluru-based lending Platform KreditBee has raised $70 million in a follow-on series C round from TPG backed NewQuest Capital Partners and Motilal Oswal Private Equity.

“The funds will be deployed towards expanding the lending portfolio to different products, and developing an offline-online lending capability to bridge the consumer financing needs,” the statement added.

Earlier in February, KreditBee raised $75 Million from marquee investors Premji Invest, Mirae Asset Ventures, Alpine Capital, and Arkam Ventures. 

“With this fresh funding, KreditBee’s early-stage investor Shunwei Capital, including Xiaomi make a complete exit for the board,” the statement said.

- Advertisement -

Speaking on the fundraise, Madhusudan E, Co-Founder & CEO of KreditBee’s holding group entity, said, “A complex demography like India requires simple, effective, and impactful lending solutions, that comes with a deeper understanding of the consumer financing needs of the ecosystem. We are happy to onboard investment partners with us who share the same vision as we do as to how personal finance should graduate from a luxurious aspiration to a trivial commodity, available at the click of a button.”

Commenting on the investment, Amit Gupta, Founding Partner at NewQuest Capital Partners, said, “The requirements of the average value-seeking middle class Indian can only be met by a multitude of lending products. One size doesn’t fit all. We are excited to become a shareholder of Finnov at this juncture and to support its next stage of development in offering innovative lending solutions to the dynamic India market.”

“We are keen on businesses that are scalable and yet built on sound unit economics, and KreditBee ticked all the boxes. With the sustained focus and momentum, we see the platform becoming a mainstream Fintech Lending solution in the Asian market,” Vishal Tulsyan, CEO and MD at Motilal Oswal Private Equity added.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

close

Stay on top of Budget 2023 with our newsletter

- Advertisement -

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Budget 2023 Wishlist: Expectations from Bikanervala, CEF Group & Indian Auto LPG Coalition

The upcoming budget for 2023-24 has sparked interest and anticipation among dif...

Union Budget 2023: What Are the Pre-Budget Expectations for the FinTech and Digital Lending Sector?

As the poster child of India’s digital growth story, the FinTech sector is pois...

Budget 2023: “Online Gaming industry hopes for clarity in tax slab,” Says Sai Srinivas, CEO MPL

As India strives towards becoming a $5 trillion economy, the upcoming 2023 Unio...