• Finclable News

Kreditbee raises INR 60 Crore from Sidbi

Consumer lending startup Kreditbee raised INR 60 Crore from India's SME body SIDBI, Kreditbee is into app based consumer lending.

Its SIDBI's second investment in Indian fintech space, SIDBI has also invested in Billdesk.

Bangalore headquartered will use this funding for building buy now pay later as well as insurance product.

Kreditbee was founded in 2015, it provides services like provide lending products like salary advance, personal loans & online shopping credit.

Kreditbee also has a NBFC arm which is called krazybee, Kreditbee claims to process personal loans upto 2 lacs on its platform in just 15 minutes.

Kreditbee was founded by Madhusudan Ekambaram in 2015, Madhusudan is also an angel investor in other fintech startups like Frontpage, Jodo, Bhive Invest.

Madhusudan is a NIT Karnataka alumnus, He is also a dropout from top management college, Rotman School of Business (University of Toronto).

Kreditbee competes with players like MoneyTap, NAVI, Early Salary in Indian app based consumer lending space.