- The startup has acquired an undisclosed amount in a Series A funding round led by top-tier fintech founders and super angels.
- The fresh funding will be used to improve the performance of the platform and reach out to more customers in an untapped market.
- As of now, the platform has disbursed INR 200 crore loan to about 6,00,000 customers across 2,100 cities.
Digital lending infrastructure company Kudos, on Tuesday, announced that it has received undisclosed funding in a Series A funding round led by top-tier fintech founders and super angels to hire the best minds in the country. to help the startup to achieve the vision of enabling digital lending so it reaches millions of Indians across segments and geographies.
The bunch of investors including asNithin Kamath of Zerodha, Nitin Gupta of UNI, Patanjali Somayaji of Walnut, Sumit Maniyar of Rupeek, Nischal Shetty of WazirX, Anish Achuthan of Open Banking, Ganesh Rao of NOCP, Amit Choudhary of DawaaDost, the entire leadership team of One Card and Vaibhav Domkundwar of Better Capital were also witnessed in funding round.
The startup has built the industry’s best digital lending infrastructure platform which comprises the capital, regulatory compliance, digital KYC, disbursements, collections, reconciliation, and all other aspects that are required for frictionless digital lending.
Founded in 2014 by Pavitra Walvekar, a Non-Banking Financial Company (NBFC) formed with an aims to help small economic scale businesses to get capital requires for business purpose. As of now, the startup had acquired funds from three individual investors i.e Rohit Chanana, Anurag Sinha, and Sorabh Agarwal before this funding came to the startup.
Pavitra Walvekar, Co-Founder and CEO of Kudos said, “We are excited to see the tremendous trust and belief in our vision from the best fintech founders and angel investors who are investing in this round. We are profitable and growing month on month and adding partners across Agri, fintech, edtech, revenue-based financing, and other segments faster than ever and now preparing to raise a Series A to scale and become the largest company in the space over the next 18 months”.
According to the startup, it has sanctioned around 2 million loan applications, INR 2000 crore to about 6,00,000 customers across 2,100 cities and by processing one loan every 4.5 seconds, and has booked, processed, and enabled 20,000 loans a day at its peak.