India: Debt platform CredAvenue raises $90m in Series A co-led by Sequoia

India: Debt platform CredAvenue raises $90m in Series A co-led by Sequoia

Photo: Pixabay

Debt platform CredAvenue on Wednesday said it has raised $90 million in equity capital in a funding round led by Sequoia Capital, and co-led by Lightspeed, TVS Capital Funds, Lightrock and others. The funding values the company at approximately $410 million.
Avendus Capital was the exclusive financial advisor to CredAvenue on the transaction.

CredAvenue’s debt platform offers lending institutions and enterprises solutions for discovery and execution across a wide range of products. To date, the startup has facilitated transactions worth around $9 billion through the platform, engaging with over 1,500 institutional borrowers and more than 750 investors and 1 million end-retail borrowers.

The funds raised in this round will be used to expand product capabilities and ramping up the platform’s technology and data science infrastructure. The company aims to invest heavily in data science, machine learning and artificial intelligence over the next few months to significantly improve and expand its product offerings, across each of its sub platforms.

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