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Kreditbee 75m Series Azim Premji Economictimes is an important development in Indian Technology and the Fintech sector. Kreditbee is an online lending platform, built for the Indian Millennial and GenZ users. It raised the huge funding from Azim Premji’s family office Premji Invest and is the second venture from the family office to invest in the startup.
Kreditbee – A Brief Introduction
Kreditbee was founded on 15th February 2018 by Upwardly Technologies Private Limited with a mission to make credit-on-demand services accessible and affordable to Indians. It offers online credit options in the form of loans, line of credit and small ticket size loans, which are backed by its user’s digital footprints and a credit risk engine that determines their ability to repay. Kreditbee has come of age and the users can avail credit with just the click of a button.
Kreditbee’s Fundraising
Kreditbee has been on a fundraising spree in 2019 and has raised a total of $90 Million across three rounds of funding, the latest being the 75 Million Series C fundraise led by veteran investor Azim Premji’s Family office Premji Invest. Prior to this, Kreditbee had secured its Series A and B raise of 10 and 55 million dollars from a group of investors including Lionrock Capital, Chiratae Ventures, BBG and Axilor Ventures. The latest round was held to permeate the AI-driven credit risk engine and the core Credit-on-Demand product and widen its outreach to new customers.
Azim Premji’s involvement with Kreditbee
Azim Premji is considered as a synonym to the Indian technology and philanthropic space. With over 50 years of experience and tremendous success in the technology sector, his wisdom is unprecedented and extremely valuable. The involvement of such eminent investor in the project is a testimony to its potential and genius, which a select few entrepreneurs can inspire.
Kreditbee’s Growth
Since its inception in 2018, Kreditbee has grown leaps and bounds and is now one of the largest and fastest-growing consumer lending platform in India. It has lent over $150 Million to its 1.5 million consumers mainly across 19 states in India. It has achieved a 450% Annual Growth Rate since last year and has plans to reach 6 million in the next 6-12 months and process over $400million in Monthly Disbursal Run Rate
Kreditbee’s Structure
Kreditbee follows a multi-level architecture structure, wherein the AI-driven credit risk engine and the borrower’s digital footprint are evaluated at multiple levels before the loan is disbursed. The company’s tech-oriented core fundamentals also make it one of the most advanced and transparent lending portals.
Kreditbee’s Partnerships
Kreditbee is further scaling its lending operations by entering into strategic partnerships with numerous organizations. It has partnered with the likes of Amazon, Flipkart, Ola, Razor Pay, Box8 etc, thus providing them access to credit at the ease of an online transaction.
Kreditbee’s Future Development Plans
Kreditbee is being geared up to enter new markets and expand into its new product verticals. It has laid plans to build a holistic lending ecosystem, which will enable asset-light and asset-backed credit options at multiple magnitude to the different users.
Conclusion
The Kreditbee 75m Series Azim Premji Economictimes is a significant development in the Indian Fintech industry and will have far-reaching implications. Kreditbee is growing from boundaries to boundaries due to its tech-savvy credit risk engine, strategic partnerships and innovative platforms. With Azim Premji’s deep involvement and the Kreditbee’s futuristic vision, it looks like there’s no looking back.
Related FAQs
Q1. What is the Kreditbee 75m Series Azim Premji Economictimes?
A1.Kreditbee 75m Series Azim Premji Economictimes is an important development in Indian Technology and the Fintech sector. Kreditbee is an online lending platform backed by the family office of Azim Premji who has invested 75 million dollars in the company.
Q2.What is the mission of Kreditbee?
A2.The mission of Kreditbee is to make credit-on-demand services accessible and affordable to Indians.
Q3.How much capital has Kreditbee raised over 3 rounds?
A3.Kreditbee has raised a total of 90 million dollars across 3 rounds of funding.
Q4. About kreditbee 75m premji premjiinvestmanikandan the.
A4.Kreditbee 75m Series Azim Premji Economictimes is an important development in Indian Technology and the Fintech sector. Kreditbee is an online lending platform, built for the Indian Millennial and GenZ users. It raised the huge funding from Azim Premji’s family office Premji Invest and is the second venture from the family office to invest in the startup.
Q5. What is kreditbee 75m azim premji premjiinvestmanikandan?
A5. Kreditbee series azim premji the is an important development in Indian Technology and the Fintech sector. Kreditbee is an online lending platform, built for the Indian Millennial and GenZ users. It raised the huge funding from Azim Premji’s family office Premji Invest and is the second venture from the family office to invest in the startup.
