KreditBee, an India-based online credit solutions provider, has reportedly raised $280m in a Series E funding round, achieving unicorn status at a $1.5bn valuation as it prepares for an initial public offering (IPO).
The round was co-led by Hornbill Capital and Motilal Oswal, with additional participation from Advent International, Premji Invest, MUFG, and other institutional investors, according to a report from FinTech Futures.
According to co-founder and CEO Madhusudan Ekambaram, the capital will primarily be deployed to strengthen the company’s lending book and balance sheet ahead of its IPO, rather than towards product development.
KreditBee is currently in the process of merging its technology and non-banking financial company (NBFC) entities, with the combined entity expected to serve as the vehicle for the listing.
KreditBee is a leading online credit solutions provider in India, serving a user base of over 180 million individuals, predominantly young professionals including both salaried and self-employed workers.
The platform has more than 80 million registered customers and over 15 million unique loan customers. Its product suite spans personal loans, business loans, loans against property, two-wheeler loans, and other tailored financial products.
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