India SME Investments has recently expanded its portfolio in the BFSI segment by making an investment of Rs 60 Crores into KreditBee. The investment is done in the form of both equity and debt.
In September 2019, India SME invested Rs 28.4 Crores as debt in Krazybee Services Private Limited, the RBI-backed NBFC-ND-SI which is a part of the holding company of KreditBee.
SIDBI backed India SME Investments focuses on investing in early-growth companies, primarily based out of/operating in Tier 2/3 cities, targeting the lower/middle-class segment and benefiting from changing consumer preferences.Its other investments include Citykart (largest value-retailer in UP and Bihar), Kushal’s (India’s largest fashion jewellery brand) and snacking company Priniti.
Also Read: –KreditBee upgraded its tech platform to help customers avail moratorium: Madhusudan Ekambaram, CEO
India SME has been associated with KreditBee for more than 24 months, and believes that the team has deep rooted understanding of fintech space, wherein it has scaled its business by more than 5x on the back of seasoned credit analytics, optimal control on CAC and prudent product selection.
