India-based Kredent said to raise $1.3m in funding

FinTech solution developer Kredent has reportedly secured $1.3m in growth funding.

Kotak Securities, which is a subsidiary of Kotak Mahindra Bank, has purchased a 10% stake in Kredent, according to a report from TechCircle.

Samyakth Capital also supplied capital to the round, but it is unclear how big of a stake it holds.

With the capital and fresh partnerships, Kredent is looking to accelerate its growth and reach ten million users in the next two years – it currently has two million users.

Alongside this, funds will be used to bolster its product capabilities and boost brand awareness of its subsidiaries, Elearnmarkets and StockEdge.

India-based Kredent offers a portfolio of services for the financial markets, real estate, education and technology markets.

Its operations within the financial markets is conducted through its KTD trading division, which offers traders with support.

Last week, fellow India-based FinTech company Digit Insurance hit a $3.5bn valuation after the close of a $200m funding round. The round will help the InsurTech company shore up the solvency requirement of 150% insurers’ liability mandated by the regulators

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