KreditBee is a digital lending platform that facilitates loan transactions between borrowers and personal loan providers such as NBFCs or Banks. The company serves the credit and other personal finance requirements through its own NBFC – Krazybee Services Private Limited along with partnerships with over 10 financial institutions. Currently, the company claims to have about 7 million loan customers, out of which over 3 million are active loan customers.
The credit startup KreditBee has raised further $120 million as part of its Series D funding round from existing investors like Advent International, Premji Invest, Japan-based MUFG Bank. KreditBee is going to use the proceeds to scale its business and diversify its product portfolio by offering digitally-enabled financial offerings. The company also plans to expand in the SME lending space in 2023.
KreditBee, Bangalore, Karnataka, India, was founded in 2018 by Madhusudan Ekambaram, Karthikeyan Krishnaswamy and Wan Hong. The company is on track to surpass $1 billion in assets under management over the next 6-9 months.