CredAvenue Takes Majority Stake In Corpository

With this acquisition, all lenders on CredAvenue will be able to evaluate and make lending decisions on the platform itself

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CredAvenue, a debt marketplace, has acquired a majority stake in Corpository, a full-stack corporate credit underwriting company, at a valuation of INR 100 crore through a combination of primary investment and secondary purchase from existing shareholders. With this acquisition, all lenders on CredAvenue platform will be able to evaluate and make lending decisions on the platform itself, thus saving time for the lending process.

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"We aim to continue on the growth path in the debt space and sharpen the processes for ease of use through technology. Corpository's underwriting solution drastically cuts down the time needed to make a lending decision and also ensures that the lender stays on top of the developments at the borrowers' end at every point of time," said Gaurav Kumar, founder and CEO, CredAvenue.

CredAvenue, a debt marketplace that connects enterprises with lenders and investors, currently has five credit platforms including, CredLoan (a loan platform), CredCoLend (an origination platform for banks and NBFCs for co-lending partnerships), Plutus (a Bond platform), CredSCF (a supply chain platform), CredPool (a platform for end-to-end securitisation and portfolio buyouts). CredAvenue currently works with more than 3000 corporates and over 750 lenders. It has also facilitated debt volumes over INR 35,000 crore, the company claimed in a statement.

"CredAvenue has opened a great channel for us to reach out to the lending ecosystem and transform credit-based decision making through solid, data-based insights," said Aniket Shah, co-founder, Corpository.

Corpository's SaaS-based products are used to evaluate, underwrite and monitor corporate credits using publicly available data from more than 50 sources such as the ministry of corporate affairs, credit ratings, GST filings and litigation data, among others.

The global digital lending platform market size is projected to reach $20.31 billion by 2027, growing at a CAGR of 16.7 per cent from 2020 to 2027.