Tokyo FinTech
Published in

Tokyo FinTech

MUFG participates in India’s KreditBee Series D

Bengaluru-based FinTech startup KreditBee, a digital lending platform developed to assist young professionals with their personal finances, has secured USD 80m in Series D fundraising from current investors Premji Invest, Motilal Oswal Alternates, TPG-backed NewQuest Capital Partners, and Mirae Asset Ventures. MUFG Bank, one of Japan’s megabanks, also took part in the round. This round takes the total funding raised to close to USD 220m.

The cash will be utilized to diversify KreditBee’s product line and develop its tech stack in order to serve over 400 million middle-class Indians on its platform.

DeelStreetAsia reported that KreditBee is also in talks to raise debt funding from MUFG and other lenders such as the State Bank of India (SBI) and HSBC. KreditBee is looking to raise USD 14.2m in debt, with approximately half coming from MUFG.

The firm provides credit and other personal finance needs through its in-house RBI-registered Non-Banking Financial Company (NBFC), Krazybee Services Private Limited (designated as a systemically significant NBFC), as well as collaborations with over ten financial institutions. The platform is well positioned to surpass USD 1bn in AUM (assets under management) in the next 6–9 months.

The company claims to have six million loan clients, with over two million of them active.

This article is part of our Tokyo FinTech Publication, please follow us to read more from our writers, like hundreds of readers do every day. Please also register for our short weekly digest, published some Saturdays, at the link below.

Should you live in Tokyo, or just pass through, please also join our Tokyo FinTech Meetup. In any case, our YouTube channel and LinkedIn page are there for you as well.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Norbert Gehrke

Passionate about strategy & innovation across Asia. At home in Japan. Connector of people & ideas.