Credavenue 137M Series Insight Capital Dragoneer
CredAvenue is an Indian firm that is specialized in the process of securing credit for companies that have been granted the status of being the fastest Indian startup to be an official member of the unicorn club. This startup has been operational for two years and has received $137 million from Series B financing. The financing was managed by Dragoneer, B Capital Group as well as Insight Partners. The company was established by the founder and co-founder of Vivriti Capital, Gaurav Kumar who was valued at $1.3 billion.
The company includes Lightspeed Venture Partners, TVS Capital, Sequoia Capital India as well as other companies. Together, these companies have raised around $227 million.
Gaurav Kumar stated when he spoke to TechCrunch that he managed three companies prior to CredAvenue and was associated with lending for over 16 years. CredAvenue has developed the best technology stack to manage everything from disbursal of debt to collection.
This firm also provides working capital and term loan solutions to various businesses. It has also joined forces with financial institutions and banks that are not banks to co-lend funds and create an infrastructure for the issue of bonds to retail companies as well as institutions. Additionally, it offers trade finance, portfolio buyouts, and end-to-end securitization.
Gaurav Kumar has claimed that if companies want direct funding, they may select loan stacks, ABS stacks,s and bond stacks. But, if the firm prefers loans through indirect channels, it could choose to use the as a co-ending platform and also bring retail customers.
If a bank or enterprise partner of the business, they have access to the entire range of CredAvenue. The company has already begun buying other startups, such as Spocto. But, the company will still be a part of India. CredAvenue is able to issue loans worth greater than $10.5 billion. The company has a relationship with more than 2300 corporations, 750 lenders, and 450 businesses.
Kabir Narang, the Founding General Partner of B Capital Group, has stated that CredAvenue is working to connect lenders and investors. This can assist in the facilitation and monitoring of debt-related products. In India, the percentage of debt remains at up 60 to 60% of GDP.
The Indian debt market is unserved with $1.9 trillion. CredAvenue is working to automatize and improve the debt market in India efficiently. This is evident by their ability to retain the borrowers as well as to make repeat agreements with investors.