Indian gaming platform WinZo raises $65 mn
Phil Sanderson, Co-Founder of Griffin Gaming Partners, will join WinZO's board of directors.
Digital lending startup KreditBee has secured $75 million (around Rs 544 crore) in its Series C equity round which saw participation of Premji Invest and South Korea’s Mirae Asset Venture.
Other participants included US-based Alpine Capital and Arkam Ventures at an undisclosed amount, consisting of both primary and secondary investment.
Co-Founder & CEO of KreditBee Madhusudan E said, “With a larger portfolio of loan products, our objective is to provide credit to over 180 million new-to-credit customers who were not provided formal credit earlier. This investment would help us take more positive steps towards achieving that.”
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Atul Gupta, partner at Premji Invest said, “We are impressed by the vision of KreditBee to formalise the path towards credit enablement for new-to-credit customers, their skilled team and responsible tech-enabled underwriting, and are pleased to partner with them in their next stage of growth.”
KreditBee’s parent company, Finnov, has previously raised over $43 million cumulatively in equity from investors including ICICI Bank and Arkam Ventures, it noted in a statement on Monday.
Registered in March 2016, the group entity also holds Krazybee Services Private Limited, Systemically important non-deposit taking non-banking financial company (NBFC-ND-SI) registered with the Reserve Bank of India since May 2017.
The group launched KreditBee in May 2018, focused on full-stack digital lending for young professionals. The company specialises in providing digital personal loans and consumer durable loans to both salaried and self-employed.
The company currently has more than 1,200 employees and a user base of over 20 million. It plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans and credit line.
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