Debt platform CredAvenue has raised $90 million in its Series A round of funding. The round was led by Sequoia Capital India, following which the valuation of the company to $410 Mn. Other investors who participated in this round include TVS Capital Funds, Lightspeed, CRED, Lightrock, and Stride Ventures. Avendus Capital was the financial advisor to CredAvenue for this funding.
The debt-seeking enterprises platform will use the funds to build the current platform by more customer acquisition and data expansion capabilities. Founded in 2020, the has reportedly facilitated transactions worth USD 9 billion, with over 1,500 institutional borrowers and 750 lenders having utilised their services.
The company is also looking at team expansion from the present cohort of 350 employees to over 700 by the end of 2022. In ita seed funding round they had raised $8 to $10 million in its seed funding round led by Lightrock India.
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