Fintech Lender KreditBee Gets INR 60 Cr From India SME

The investment comes in the form of both equity and debt investment and follows a INR 1,070 crore Series C round concluded in February 2021

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India SME Investments has recently expanded its portfolio in the BFSI segment by infusing a capital of INR 60 crore into the holding entity of KreditBee. The investment comes in the form of both equity and debt. This round is a follow-up tranche of investment from India SME after having invested INR 28.4 crore 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.

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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 buy-now-pay-later (BNPL) and Insurance, among others.

SIDBI backed India SME Investments focuses on investing in early-growth companies, primarily based out of/operating in tier-II and tier–III cities, targeting the lower/middle-class segment and benefiting from changing consumer preferences. Its other investments include Citykart (value-retailer in UP and Bihar), Kushal’s (fashion jewelry brand) and snacking company Priniti.

India SME has been associated with KreditBee for more than 24 months and believes that the team has a deep-rooted understanding of fintech space, wherein it has scaled its business by more than fivefold on the back of seasoned credit analytics, optimal control on CAC, and prudent product selection.