CredAvenue raises $ 90 million in Series A led by Sequoia

MUMBAI : Debt platform CredAvenue announced on Wednesday it had raised $ 90 million in equity in a funding round led by Sequoia Capital and co-led by Lightspeed, TVS Capital Funds, Lightrock and others. The financing values ​​the company at approximately $ 410 million.

Avendus Capital was CredAvenue’s exclusive financial advisor on the transaction.

CredAvenue’s debt platform provides credit institutions and businesses with discovery and execution solutions across a wide range of products. To date, the startup has facilitated approximately $ 9 billion worth of transactions through the platform, engaging more than 1,500 institutional borrowers and more than 750 investors and 1 million end borrowers.

Funds raised during this cycle will be used to expand product capabilities and accelerate the platform’s technology and data science infrastructure. The company aims to invest heavily in data science, machine learning and artificial intelligence over the coming months to significantly improve and expand its product offerings, across each of its sub-platforms.

“At CredAvenue, our goal is to revolutionize the debt market through technology and innovation. We are the only corporate debt platform to offer all forms of debt, both in India and globally, and this is reflected in the scale of business our platform has done since its inception. We are delighted to welcome Series A investors to our journey. They will catalyze our mission with capital and advice, to continue to extend our lead in this market ”, said Gaurav Kumar, Founder and CEO of CredAvenue,

CredAvenue has more than 350 employees in different vertical sectors: technology, sales, marketing, strategy, HR. It plans to double its workforce to 700 by the end of fiscal 22. The company also expects global expansion and inorganic growth through strategic acquisitions.

The organization has a portfolio of five platforms catering to both borrowers and investors: CredLoan – term loan and working capital solutions for businesses; CredCoLend – for banks and NBFCs for co-lending partnerships; Plutus – bond issuance and investment for institutional and retail participants; CredSCF – trade finance solutions and CredPool – end-to-end securitization and portfolio buybacks.

In addition, the company also offers portfolio management and monitoring services as a SaaS offering to its borrowers and lenders.

“CredAvenue is a unique solution that not only simplifies access to credit for borrowers with credit ratings ranging from BB to AA, but also improves access to multiple debt products like bonds, chain finance. procurement, etc. on one unified platform. We believe it has the opportunity to become the platform of choice for borrowers and lenders operating in the debt market, “said Sakshi Chopra, MD, Sequoia India.

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