KB NBFC, the non-banking financial company subsidiary of leading lending tech startup KreditBee, recently secured a substantial debt funding of INR 268 Cr (approximately $32 Mn) from prominent investors, as revealed in the company’s regulatory filings. This funding, received between April and June, reflects a significant vote of confidence in KB NBFC’s growth trajectory and its integral role as one of KreditBee’s lending partners.
Funding Breakdown and Utilization
The financing round saw participation from key players such as Yubi, Dzerv, Neo Group, OfBusiness, and Oxyzo, among others. Notably, the latest tranche of INR 100 Cr was disbursed recently, following the allotment of debentures to Dzerv and Neo Group. The infusion of capital is earmarked to bolster KB NBFC’s working capital requirements and facilitate the expansion of its business operations.
Strategic Partnerships and Ecosystem Integration
KB NBFC’s significance lies not only in its financial prowess but also in its strategic collaboration with KreditBee. As one of KreditBee’s lending partners, KB NBFC plays a crucial role in extending credit facilities to individuals, catering to diverse financial needs. KreditBee’s broader network includes partnerships with esteemed entities like Incred Finance, Vivriti Capital, Northern Arc, and Pay U Finance, further amplifying its reach and impact in the fintech landscape.
Continued Growth Trajectory
This latest funding milestone comes on the heels of KreditBee’s recent Series D funding round, where the startup raised $9.4 Mn from existing investors. With the infusion of additional capital, KreditBee successfully closed its Series D round at an impressive $209 Mn valuation, highlighting investor confidence in its growth prospects and market positioning.
Vision and Impact
Since its inception in 2018, KreditBee has been at the forefront of democratizing access to credit and financial services, serving a vast user base exceeding 30 Mn individuals. With a strong foothold in both the salaried and self-employed segments, KreditBee continues to expand its reach, boasting over 11 Cr registered customers and over 1.2 Cr unique loan customers. This underscores the platform’s relevance and impact in addressing the evolving financial needs of a dynamic demographic.
Future Endeavors
As KreditBee charts its course for the future, including a potential reverse flip to India with an eye on going public, the company remains steadfast in its commitment to innovation, inclusivity, and financial empowerment. With a robust foundation supported by strategic partnerships, substantial funding, and a clear vision, KreditBee is poised to navigate the complexities of the fintech landscape and drive meaningful change in the financial services sector.
