🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

KreditBee Company Profile - Get Easy Instant Personal Loans!

StartupTalkyStartupTalky · 1y ago
KreditBee Company Profile - Get Easy Instant Personal Loans!
Medial

KreditBee, a fintech startup based in Bangalore, India, is simplifying the process of borrowing small loans for young professionals. Launched in 2018, KreditBee aims to help the New-to-Credit (NTC) population become part of the Credit Bureau system in India, enabling them to borrow from traditional banks and NBFCs. The company provides instant personal loans ranging up to INR 5 lakh ($6,875) through its fully online platform. With a focus on financial inclusion, KreditBee utilizes alternative lending data points beyond salary and credit scores to cater to non-salaried individuals such as part-timers, freelancers, and self-employed professionals. The company has experienced significant growth, serving over 10 million customers and providing loans of over $7 million as of early 2023.

Related News

Consumer-lending fintechs steal show with surging numbers

Economic TimesEconomic Times · 11m ago
Consumer-lending fintechs steal show with surging numbers
Medial

- Fintech firms in the consumer lending sector reported strong profits and revenue growth in the last financial year. - Navi, Kreditbee, Moneyview, and Fibe all experienced significant growth in assets under management (AUM) and reported net profits. - Navi built AUM of Rs 10,190 crore in personal loans with a net profit of Rs 669 crore in FY24. - Fibe achieved AUM of Rs 4,064 crore and reported a net profit of Rs 105 crore in FY24 by focusing on larger loans with longer tenures. - Moneyview reported a flat net profit of Rs 171 crore in FY24 due to regulatory changes, while Kreditbee reported a net profit of Rs 285 crore. - The current fiscal year may show signs of slowdown due to increased regulatory scrutiny, but larger fintech startups are expected to remain in a better position. - Consolidation is expected in the digital lending sector as scaling fintech startups acquire market share and form partnerships.

Fintech firm KreditBee recharges Series D round with $9.4 Mn

EntrackrEntrackr · 1y ago
Fintech firm KreditBee recharges Series D round with $9.4 Mn
Medial

Digital lending platform KreditBee has raised $9.4 million or Rs 78.33 crore from existing investors: Premji Invest, Motilal Oswal Private Equity, and Mirae Asset among others in an extended Series D round. The board at KreditBee has passed a special resolution to issue 92,322 Series D compulsory convertible preference shares (CCPS) at an issue price of Rs 8,485.36 each to raise Rs 78.33 crore, its regulatory filing sourced from the Registrar of Companies shows. Inc42 reported the development first. Wiseanya Ltd led the round with an infusion of Rs 40.91 crore while Motilal Oswal PE (via India Business Excellence) and Mirae Asset pumped in Rs 9.52 crore and Rs 1.15 crore, respectively. Premji Invest, MUFG Bank Limited, and NewQuest Capital also joined the round with the remaining sum. Founded by Madhusudan E, KreditBee is a platform facilitating loan transactions between borrowers and NBFCs or banks. The company provides personal loans up to Rs 4 lakh to young professionals for a tenure of 2 to 15 months and at an interest rate of up to 2.49%. The new tranche has come for the company after a gap of 15 months. It raised $180 million across two tranches in the last quarter of FY22. As per the startup data intelligence platform TheKredible, Premji Invest is the largest external stakeholder with 23.44% followed by Newquest Asia and Alpine Capital. Head to TheKredible to see the complete shareholding. According to its website, it has over 7 million customers and disbursed credit worth Rs 30,000 crore. KreditBee turned into the black in FY23 to post Rs 64.33 crore profit. At the same time, its revenue from operations grew to Rs 788.66 crore during the last fiscal year. MoneyTap, EarlySalary, LazyPay, and Sachin Bansal’s Navi are notable competitors of KreditBee.

Download the medial app to read full posts, comements and news.