CredAvenue enters into Unicorn Club
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|
|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.