India-based online lending platform KreditBee has reportedly scored $75m in its Series C round.
The round was supported by Premji Invest, Mirae Asset Naver Asia Growth Fund, Alpine Capital and Arkham Ventures, according to a report from Entrackr.
Equity from the round will enable the company to expand its loan product offering and bolster its technology stack.
The FinTech enables consumers in India to get access to personal loans within a few minutes. Consumers can take out loans ranging from INR 1,000 ($13) to INR 200,000 ($2,750).
Its app has been downloaded more than 20 million times, its website claims.
The company’s co-founder and CEO Madhusudan Ekambaram told Entrackr the company hopes to provide credit to more than 180 million “new-to-credit” customers that have not had access to traditional lines of credit.
Prior to the fresh investment, the FinTech has raised a total of $43m in funding, the report states.
A number of Indian FinTech companies have raised funds this year. EduFund, which supports students with their financial planning, closed a $344,346.
Copyright © 2021 FinTech Global