Flipkart founder Sachin Bansal has invested Rs 50 crore in a consumer lending startup Kissht. The investment has been made through Bansal and Ankit Agarwal’s investment firm BAC Acquisitions in the form of debt funding.
Kissht is a consumer credit start-up which was founded in 2015. It was founded by the former McKinsey consultants Krishnan Vishwanathan and Ranvir Singh. The start-up allows the consumers to do the payment for their online orders in the form of monthly installments, without making use of credit cards. The major clients of the company are over 3,000 offline stores and 50 online merchant partners. It includes major online merchant partners, including Amazon, Flipkart, Caratlane, MakeMyTrip and Uber.
In 2018, the start-up Kissht had raised USD 30 million in a Series C financing round led by Vertex Ventures Southeast Asia (SEA) and India and Sistema Asia Fund, along with participation from existing investors Fosun RZ Capital, Ventureast, and Endiya Partners.
Kissht, prior to its Series C round, had also raised USD 10 million funding in a round led by Chinese investment conglomerate, Fosun International. It had also secured USD 2 million in 2017 from Hyderabad-based, early-stage venture capital firm Endiya Partners and Ventureast.
(Source Inc. 42)