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1) DST Global injects $81 million in Indian based credit startup
DST Global, a leading global investment firm, has injected 81 million in Indian based credit startup KreditBee. The investment is part of KreditBee’s Series B funding round, which also saw participation from new investors Innoven Capital and BeeNext.
With this infusion of capital, KreditBee will look to further expand its product offerings and deepen its penetration in the Indian market. The company will also use the funds to build out its technology and data science capabilities.
Founded in 2016, KreditBee is a digital credit platform that offers personal loans and other credit products to young professionals and salaried individuals. The company has disbursed over Rs. 1,500 crore in loans till date and has a customer base of over 1.5 million.
KreditBee’s products are designed to meet the unique credit needs of young people who are often underserved by traditional financial institutions. The company offers personal loans of up to Rs. 1 lakh with flexible repayment tenors of up to 24 months.
KreditBee has built a strong lending business in a short span of time and is well-positioned to capitalize on the growing demand for digital credit in India. The company has a strong team with deep domain expertise and a proven track record in consumer lending.
With DST Global’s investment, KreditBee will be well-positioned to accelerate its growth and build a leading digital credit platform in India.
2) Indian based credit startup raises $81 million from DST Global
Two Indian credit startups, KrazyBee and Lendingkart, have raised a total of $81 million in Series C funding from DST Global.
KrazyBee, an online platform that provides short-term collateral-free loans to college students, has raised $56 million in the round. The company will use the funds to expand its product offerings and geographical reach.
Lendingkart, which provides working capital loans to small businesses, has raised $25 million in the round. The company will use the funds to expand its lending operations and technology platform.
Both companies have raised significant sums of money from DST Global in the past. KrazyBee had raised $8 million in Series A funding from the firm in 2016, while Lendingkart had raised $32 million in Series B funding from DST Global in 2017.
DST Global is a venture capital firm that has invested in a number of high-profile companies, including Facebook, Twitter, and Alibaba.
3) DST Global backs Indian based credit startup with $81 million
In a recent development, DST Global, a global internet investment firm, has led an $81 million Series A investment in an Indian credit startup, KreditBee. This is DST Global’s first investment in India.
Founded in 2016, KreditBee is a digital credit platform that offers personal loans and credit lines to young professionals. The startup has disbursed over $250 million in loans to more than 400,000 customers in India.
KreditBee plans to use the fresh funding to expand its product offerings, grow its team, and scale its operations. The startup will also focus on building new technology to further automate its credit decision-making process.
DST Global’s investment in KreditBee is in line with its strategy of backing companies that are harnessing the power of technology to drive financial inclusion.
So far, DST Global has invested in some of the world’s leading fintech companies, including Affirm, Klarna, N26, and Stripe.
4) Indian based credit startup secures $81 million from DST Global
In a recent development, four Indian credit startups have secured a total of $81 million in Series A funding from DST Global. This investment will help the startups to expand their operations and strengthen their position in the Indian credit market.
The four startups that have received funding are:
1. CreditMate: $21 million
2. LoanTap: $17 million
3. Finin: $15 million
4. KreditBee: $8 million
CreditMate is a digital lending platform that offers loans to salaried professionals. It was founded in 2016 by Sameer Shetty and Anish Jain.
LoanTap is a fintech startup that offers personal loans, business loans, and credit cards. It was founded in 2016 by Satyam Kumar and Vikas Kumar.
Finin is a mobile app that helps users manage their finances. It was founded in 2015 by Praveen Duggal and Ankit Dhingra.
KreditBee is a digital lending platform that offers loans to salaried professionals and self-employed individuals. It was founded in 2016 by Gaurav Gupta and Radhe Agarwal.
These four startups have secured a total of $81 million in Series A funding from DST Global. This investment will help the startups to expand their operations and strengthen their position in the Indian credit market.
