KREDITBEE
Kreditbee looks to tap private credit funds
"We will have one private round before the IPO. That will be our last private fund raise after which we will prepare for the IPO," said Madhusudan Ekambaram, co-founder & CEO, KreditBee. "The private round will happen within one year from now. After which we will look for the correct market conditions to list, and if the prevailing conditions continue it could happen one and a half years from now."
Premji Invest in talks to pick up big stake in Bank of Baroda’s Nainital Bank
Premji Invest in talks to acquire majority stake in Nainital Bank at around Rs 800 crore. Public sector lender Bank of Baroda, which owns around 98% of Nainital Bank, is expected to divest its entire shareholding
Consumer lending apps on track on profitability front
Freo joins the likes of Navi, Fibe and Kreditbee in profitability, reports positive cash flow over the last four months. They target various consumer segments with innovative financial services, ensuring sustainable business growth and asset quality.
India tech startups see lowest funding in five years, just two unicorns in 2023
Funding in India's tech startup ecosystem in 2023 has been the lowest in the last five years, dropping India's global ranking from 4th to 5th place, a new report showed on Friday.
Fintech startup DPDzero raises $3.2 million in funding round led by Blume Ventures, IndiaQuotient
DPDzero plans to use the funds primarily to “enhance product distribution, expedite product development, and assemble a high-calibre team”.
Creaegis closes maiden fund at $426 million
Founded by former Premji Invest managing partner and chief investment officer (CIO) Prakash Parthasarathy, the fund is expected to be largely sector-agnostic and will look to infuse growth-stage capital in Indian startups.
ETtech Deals Digest: Startups raise $5.5 billion in first six months of 2023, down 72% YoY
The funding landscape for startups witnessed a 72% drop compared to the previous year. In H1 2022, $19.5 billion was raised across 1,576 funding rounds. And in comparison to the second half of 2022, when the funding winter took hold, investments have further declined by 23%.
Arkam Ventures launches second fund; targets to raise $180 million
The firm -- floated by cofounder and former managing partner of Helion Venture Partners Rahul Chandra and Kalaari Capital’s Bala Srinivasa -- plans to complete raising the fund fully by the end of 2023.
Fintech lenders back on growth path in fourth quarter after Q3 slump
Regulatory action created uncertainty for the sector, leading to some companies scaling down operations, and a volume contraction in Q3. However, the next quarter saw growth bounce back.
Macroeconomic factors having an impact on Indian start-up ecosystem: Madhusudan Ekambaram
We totally raised about 200 million. I think that happened in December 22 and Jan of 23. So I think more or less we are done with our Series D funding itself. Now yes, I think we also got very lucky when before the funding winter started and whatsoever I think we also got recognised because of our good business model.
ETtech Deals Digest: tech slowdown continues, startup fundraising dropped 75% in January compared to last year
A majority of investments in January came for the late-stage startups, with $845 million being poured across 14 rounds.
The best of ETtech Unwrapped in 2022
From a string of crypto catastrophes to Elon Musk’s acquisition of Twitter, the biggest rout in technology stocks and a funding winter, 2022 did not lack for drama. Grab a cuppa and sit back as we revisit the best explainers that ETtech Unwrapped delivered weekly to your inbox in a truly bonkers year for tech.
Lead acquires Pearson's K-12 biz; KreditBee raises $120 million in new financing tranche
Edtech unicorn Lead is set to acquire the K-12 India business of British educational services company Pearson, which has been divesting its K-12 businesses in other geographies as well. Lead’s cofounder and chief executive Sumeet Mehta said the all-cash deal will be funded through a fresh capital raise and internal accruals.
ETtech Deals Digest: Indian startups enter 2023 as funding winter still looms
Here is a list of startups that got funded this week.
KreditBee raises $120 million funding in new tranche from Advent International, others
After closing the $200 million funding round in total, KreditBee will be valued at close to $700 million
Credit-based fintech startup KreditBee raises $80 million in funding from existing investors
KreditBee is now expected to close the fundraise at $125-150 million and it is expected to wrap up in the next three weeks
Fintech lender KreditBee raises Rs 60 crore from SIDBI's India SME
The funding is part of a Series C round, in which Kreditbee earlier this year raised about $145 million from the likes of Premji Invest, Mirae Asset Ventures, TPG-backed NewQuest Capital Partners and Motilal Oswal Private Equity.
ETtech Deals Digest: Dream Sports fundraising; Khatabook buys Biz Analyst
In this week's ETtech Deals Digest: Dream11 owner Dream Sports closed a $400 million secondary investment round, while Sequoia Capital-backed digital bookkeeping app Khatabook acquired business management startup Biz Analyst.
KreditBee gets $70 million more in Series C funding round
According to a source, KreditBee’s Series C funding round has provided an exit to Chinese investors Xiaomi, Shunwei Capital and Kunlun, which together held nearly 40% stake in the company previously.
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