CredAvenue Debt Market Raises $ 90 Million in Series A Financing Led by Sequoia Capital

CredAvenue, a marketplace for financial services companies and businesses to discover lending and borrowing opportunities, has raised $ 90 million (Rs 667 crore) in its Series A funding round led by Sequoia Capital.

Lightspeed venture capital fund, mid-market-focused private equity firm TVS Capital Funds and social impact investor Lightrock also participated in this round, according to a press release.

The transaction valued the company at around $ 410 million. Avendus advised CredAvenue on the matter.

Gaurav Kumar, who co-founded CredAvenue in August last year, said the deal saw the biggest Series A check given to a startup in India. The capital will be used to expand product capabilities and accelerate the platform’s technology and data science infrastructure.

“We are the only corporate debt platform offering all forms of debt, both in India and abroad,” said Kumar, who previously co-founded NBFC Vivriti Capital.

To date, CredAvenue has facilitated transactions worth over $ 9 billion through the platform, engaging over 1,500 institutional borrowers and over 750 investors. It has serviced over 10 lakh retail end borrowers.

“CredAvenue is a unique solution that not only simplifies access to credit for borrowers with ratings ranging from BB to AA, but also improves access to several debt products such as bonds and supply chain finance. on a single platform, ”said Sakshi Chopra, CEO of Sequoia. India.

“The platform facilitates greater participation of retail investors in the corporate debt market, which drives financial inclusion in the fixed income category and facilitates national economic guidance in deepening essential bond markets in India, ”said Gopal. Srinivasan, chairman of TVS Capital Funds.

Lending to SMEs is one of the fastest growing sectors in the fintech space.

In June, Capital Float raised Rs 50 crore ($ 6.8 million) in debt for three years from financial inclusion funds managed by Triodos Investment Management. He has raised over Rs 200 crore in debt since January.

In April, StashFin raised $ 40 million in its Series B funding round from Altara Ventures, Uncorrelated Ventures, Integrated Capital, Kravis Investment Partners, Saison Capital and Tencent Cloud Europe BV.

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