CredAvenue becomes fastest fintech to join unicorn club

Chennai: Tamilnadu-based CredAvenue, a debt marketplace, has claimed emerging as India’s fastest fintech to join the unicorn club with a Series B fundraising round of $137 million, led by New York-based global private equity and venture capital firm Insight Partners, B Capital Group, and Dragoneer, with participation from existing investors. As a result, the company’s post-money valuation has grown to $1.3 billion, it said.

‘The Series B round of capital raise was preceded by India’s largest Series A round (equity), led by Sequoia Capital, Lightspeed Ventures, TVS Capital, and Lightrock. CredAvenue is adding some of the biggest names in technology investment from across the world to its capital table. These partnerships are expected to improve the strength, breadth and scale of India’s largest debt platform, providing enormous value for all stakeholders,’ it added.