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Credavenue Raises $90 Million In India'S Biggest Series A Funding Round

Sep 29, 2021•almost 4 years ago

Amount Raised

$90 Million

Round Type

series a

Mumbai

Description

Mumbai: CredAvenue, an enterprise debt marketplace, has raised $90 million in a Series A funding round led by Sequoia Capital that also included Lightspeed, TVS Capital Funds and Lightrock India. This is the largest ever Series A round in India and ascribes the year-old fintech startup a valuation of $410 million.

Company Information

Company

Cred Avenue

Location

Mumbai, Maharashtra, India

About

The Chennai-based firm currently has over 1,500 corporates and more than 750 lenders facilitating loans worth over Rs 72,000 crore, he said. CredAvenue operates a platform that connects corporates seeking loans with financial institutions and other investors who can facilitate such debt offerings through various instruments. CredAvenue is not a non-banking financial company (NBFC), which means that the firm doesn’t lend on its own book, and merely facilitates these transactions for entities on its platform. “CredAvenue is a unique solution that not only simplifies access to credit for borrowers ranging from a BB to AA rating but also improves access to multiple debt products like bonds, supply chain financing, etc. on a single, unified platform,” Chopra said.

Funding Insights

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