KreditBee seeks $120 million pre-IPO round
KreditBee, a Bengaluru-based lending startup, is gearing up for a $120 million pre-IPO funding round.
Advent International, a major prior investor, may participate, while other investors are expected to provide additional capital.
Bankers managing the process have not been disclosed.
The startup's focus and growth trajectory
KreditBee offers digital loans and financing options mainly for India's huge middle-income crowd—think consumer loans, SME lending, and even vehicle financing.
The company wants to cross $1 billion in assets under management soon and keep expanding its lineup of financial products.
Financials and future plans
KreditBee posted a net profit of ₹473 crore, with revenue jumping 40% to ₹2,712 crore.
Earlier reports have put the company's valuation at around $680 million. Some reports say the company could go public in a year or two.
Existing backers include Premji Invest and MUFG Bank.