A round led by Xiaomi Technologies and Chinese venture capital fund Shunwei Capital on Monday, Bengaluru-based micro-lending startup KrazyBee said it had raised $8 million in a series. The financing raised had been a mix of equity and debt, with involvement from Essel GroupвЂ™s E-City Ventures and RK Group.
The financing statement comes within a 12 months of this https://badcreditloanapproving.com/payday-loans-ok/ company increasing $3 million pre-Series A round in January from Plum Ventures. Ahead of this, KrazyBee had raised a seed round of $2 million in might 2016.
Talking with YourStory concerning the fundraising, co-founder Madhusudan E stated the funds will soon be utilized to capitalise the business’s NBFC to bolster the mortgage guide, develop information sciences and danger modelling capabilities and also to expand solutions to six more towns and cities.
Presently, KrazyBee mainly runs in five urban centers, including Bengaluru, Hyderabad, Vellore, Pune and Mysore. Continue reading “Micro-lending startup KrazyBee raises $8M, intends to enter payday-loan section”