CredAvenue enters into Unicorn Club

CredAvenue enters into Unicorn Club

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CredAvenue joins Unicorn Club and raised $137 million. India’s largest debt platform, CredAvenue entered into the Unicorn club in 2022. It stands as the 10th unicorn this year. It raised around $137 million in its Series B funding round. Now, the valuation of this fintech reached $1.03 million.

A source said that the raised fund was directed through New York-based global private equity and venture capital firm Insight Partners, B capital Group, and Dragoneer, with participation from existing investors.

Furthermore, This year around 11 unicorns were run by the Indian startup ecosystem. A total of 92 unicorns recorded till date.

Company, Sector Valuation (in $ billion) Month Locations
Polygon, Web3 Infrastructure-Dapps 10.0 February Mumbai
Uniphore Software Systems, Saas-conversational service automation 2.5 February Chennai
DealShare, E-commerce-social commerce 1.62 January Jaipur
ElasticRun, Logistics services 1.4 February Pune
CredAvenue, Fintech-debt 1.3 March Chennai
XpressBees Logistics, Logistics services 1.2 February  Pune
LEAD School, Edtech 1.1 January Mumbai
Hasura, SaaS-programming tools 1.0 February Bengaluru
LivSpace, Interior design-modular kitchens & home products 1.0 February Bengaluru
DrawinBox, SaaS – HR 1.0 January Hyderabad

At present, Cred-Avenue firm offers up to 5 different outlets to both investors and borrowers. Moreover, it also delivers term loans, co-lending, trade financing, and collection buyout services to its consumers.

As well as, the company also offers portfolio surveillance and keeps track of services as a SaaS handout to its borrowers and lenders.

Further, the firm drives to utilize funds towards developing its business in India and also in the key global markets, organically and organically. Moreover, it also intended to use funds to improve its specialized abilities by investing in deep technology inventions, Artificial intelligence, ML, and data analytics.

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