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Digital lending startup Kreditbee raises $9.4M in an extended Series D round: Report

Vivek Vishwakarma
New Update
Kreditbee CEO Madhusudan Ekambaram

Kreditbee CEO Madhusudan Ekambaram

Bengaluru-based digital lending platform KreditBee has raised $9.4 million in an extended Series D funding round led by a group of existing investors, including Premji Invest, Motilal Oswal Private Equity, Mirae Asset, and others. 

Wiseanya Ltd led the round with a significant investment, followed by Motilal Oswal PE, Mirae Asset, Premji Invest, MUFG Bank Limited, and NewQuest Capital. To facilitate this capital raise, the board approved the issuance of Series D compulsory convertible preference shares, Entrackr reported, citing the company's regulatory filings. 

Kreditbee growth

Founded in 2016, KreditBee has established itself as a key player in the fintech sector. The startup offers personal loans to young professionals and claims to have over 7 million customers and a credit disbursement tally of Rs 30,000 crore.


Notably, In the last fiscal year, KreditBee recorded a profit of Rs 95 crore in the first half of the financial year 2024 (FY24). 

“What has changed is that over a period of time, the average ticket size and the tenure has increased. So, now my average tenure is somewhere around 9 months, compared to 3 months in 2020. Average ticket size has increased to Rs 21,000, which was Rs 7,000-8,000 just two years ago,” CFO Vivek Veda earlier said.

IPO plans

According to KreditBee's co-founder and CEO, Madhusudan Ekambaram, the company is focused on introducing new loan products such as gold loans and loans against property. Furthermore, Ekambaram earlier revealed that KreditBee is also planning to launch its initial public offering (IPO) in the near future. 

KreditBee operates in a competitive fintech landscape, contending with firms like Navi, PB Fintech, and LoanTap. At present, It is valued around $700 million.