Fintech platform KreditBee intends to list on the stock exchanges soon.
KreditBee will enter the gold loan and loan against property segments.
The fintech company wants to explore the lucrative middle-India market next.
” data-brand=”yourstory” contenteditable=”false” data-clicktext=”” data-clickurl=”” data-pageurl=”https://yourstory.com/2023/12/a-round-away-from-our-ipo-says-kreditbee-ceo-madhusudan-ekambaram” data-sectiontype=”Key Takeaways” data-emailid=”swetha.k@yourstory.com”>
font-size: 1rem;
padding-bottom: 1.1rem;
color: #171B1C;
width: auto !important;
padding: 1.5rem 0.875rem;
margin: 1rem 0rem !important;
background: #FFFEF5;
box-shadow: 0px 4px 24px rgba(130, 150, 165, 0.25);
height: 100%;
display: block;
position: relative;
max-width: unset;
.keyTakeAWaysContainer li, .keyTakeAWaysContainer p
font-family: Adobe Caslon Pro !important;
font-style: normal;
font-weight: 400 !important;
font-size: 21px !important;
line-height: 29px !important;
color: #0F171C !important;
.ql-editor .keyTakeAWaysTitlePara
font-family: Adobe Caslon Pro !important;
font-style: normal;
font-weight: 700 !important;
font-size: 20px !important;
color: #FFFFFF !important;
margin: 0 !important;
text-align: center;
line-height: 20px !important;
.keyTakeAWaysTitlePara
font-family: Adobe Caslon Pro !important;
font-style: normal;
font-weight: 700 !important;
font-size: 22px !important;
color: #FFFFFF !important;
margin: 0 !important;
text-align: center;
line-height: 20px !important;
margin-top: 5px !important;
.keyTakeAWaysWrapper
position: relative;
margin: 6% 0px;
.ql-editor .keyTakeAWays
margin: 1rem !important;
.keyTakeAWays
margin: 3rem 1rem !important;
.keyTakeAWays ol li:before
counter-increment: headings;
content: counter(headings) ”;
.ql-editor .keyTakeAWays ol li
padding-top: 2rem;
list-style-position:outside;
list-style-type: none;
.ql-editor .keyTakeAWays ul li
padding-top: 2rem;
list-style-position:outside;
list-style-type: disc;
.keyTakeAWays ol li
padding-top: 2rem;
list-style-position:outside;
list-style-type: none;
.keyTakeAWays ul li
padding-top: 2rem;
list-style-position:outside;
list-style-type: disc;
.keyTakeAWays ol li
padding-top: 2rem;
list-style-position:outside;
list-style-type: none;
display: table;
.keyTakeAWays ul li
padding-top: 2rem;
list-style-position:outside;
list-style-type: disc;
.keyTakeAWays ol li:not(.ql-direction-rtl), .keyTakeAWays ul li:not(.ql-direction-rtl)
padding-left: 0 !important;
.ql-editor .keyTakeAWays li::before,
.ql-editor .keyTakeAWays li::marker
width: 12px;
height: 24px;
font-family: Adobe Caslon Pro !important;
font-style: normal;
font-weight: 400;
font-size: 21px;
line-height: 24px;
color: #0F171C;
padding-right: 0em;
vertical-align: middle !important;
.keyTakeAWays li::before,
.keyTakeAWays li::marker
width: 12px;
height: 24px;
font-family: Adobe Caslon Pro !important;
font-style: normal;
font-weight: 400;
font-size: 21px;
line-height: 24px;
color: #0F171C;
padding-right: 0em;
vertical-align: middle !important;
.keyTakeAWays li::marker
unicode-bidi: unset !important;
font-variant-numeric: unset !important;
text-transform: none;
text-indent: 0px !important;
text-align: unset !important;
text-align-last: unset !important;
vertical-align: middle !important;
.keyTakeAWays ul > li::before
display: inline-block;
white-space: nowrap;
width: unset;
.ql-editor .keyTakeAWays .inline_link
color: #0F171C !important;
border: 1px solid #0F171C;
padding: 2px 5px 0px !important;
text-decoration: none !important;
margin: 0px 3px 5px !important;
.keyTakeAWays .inline_link,
.keyTakeAWaysContainer > ol > li > .link,
.keyTakeAWaysContainer > ul > li > .link
color: #0F171C !important;
border: 1px solid #0F171C;
padding: 5px 5px 0px 5px !important;
text-decoration: none !important;
text-align: center !important;
display: inline-block !important;
margin: 0px 3px 5px !important;
font-weight: 0;
cursor: pointer !important;
.ql-editor .keyTakeAWays .inline_link,
.ql-editor .keyTakeAWaysContainer > ol > li > .link,
.ql-editor .keyTakeAWaysContainer > ul > li > .link
color: #0F171C !important;
border: 1px solid #0F171C;
padding: 5px 5px 0px 5px !important;
text-decoration: none !important;
text-align: end !important;
display: inline-block !important;
margin: 0px 3px 5px !important;
cursor: pointer !important;
.keyTakeAWays u
border-bottom: 1px solid #0F171C;
text-decoration: none !important;
padding-bottom: 0px !important;
display: inline-block !important;
width: auto !important;
.keyTakeAWays .keyTakeAWaysPointsWrapper
margin: unset !important;
.keyTakeAWaysContainer p:is(:first-child)
margin: 4% 1% 3% 5.5%;
.keyTakeAWaysContainer p:not(:first-child)
margin: 4% 1% 3% 5.5%;
.keyTakeAWaysContainer p:last-child:has(br:only-child)
margin: 0 !important;
.keyTakeAWaysContainer p:is(:first-child) .keyTakeAWaysTitleWrapper
top: -1rem;
.keyTakeAWays .company-widget
font-size: 20px !important;
color: #000000 !important;
cursor: pointer !important;
font-weight: 600 !important;
font-family: Adobe Caslon Pro !important;
display: unset !important;
.ql-editor .keyTakeAWays .company-widget::after,
.keyTakeAWays .company-widget::after
font-family: pt-sans !important;
content: ‘i’;
font-size: 12px !important;
border-radius: 20px !important;
border: 2.6px solid #000000 !important;
color: #000000 !important;
transform: translateY(-24%) !important;
line-height: 14px !important;
display: inline-block !important;
height: 17px !important;
width: 17px !important;
margin: 0px 0.2rem !important;
text-align: center !important;
font-weight: 900;
padding-top: 2px;
.ql-editor .keyTakeAWaysTitleWrapper
height: 37px;
width: 181px;
display: flex;
align-items: center;
background: black;
justify-content: center;
position: absolute;
top: -1rem;
left: 6%;
.keyTakeAWaysTitleWrapper
height: 37px;
width: 210px;
display: flex;
align-items: center;
background: black;
justify-content: center;
position: absolute;
top: -1rem;
left: 6%;
.ql-editor .keyTakeAWays ul
counter-reset: headings;
.keyTakeAWays ul
counter-reset: headings;
.ql-editor .keyTakeAWays ol
counter-reset: headings;
.keyTakeAWays ol
counter-reset: headings;
.keyTakeAWays ol
margin: 0 !important;
padding: 0 !important;
.ql-editor .keyTakeAWays ul, .ql-editor .keyTakeAWays ol
margin: 0px 0px 0px 0.8rem !important;
padding: 0 !important;
border-collapse: separate;
border-spacing: 1.5rem;
.keyTakeAWays ul
margin: 0px 0px 0px 0.8rem !important;
padding: 0 !important;
border-collapse: separate;
border-spacing: 1rem 2rem;
.keyTakeAWays ol
margin: 0px 0px 0px 0.5rem !important;
padding: 0 !important;
border-collapse: separate;
border-spacing: 1rem 2rem;
.ql-editor .keyTakeAWays ol, .ql-editor .keyTakeAWays ol
padding: 0 !important;
border-collapse: separate;
border-spacing: 1.5rem;
.keyTakeAWays ol
display: table !important;
.keyTakeAWays ul
display: table !important;
.keyTakeAWays ol li
list-style: none !important;
display: table-row !important;
.keyTakeAWays ul li
list-style: none !important;
display: table-row !important;
text-indent: unset !important;
.keyTakeAWays ol li::before
display: table-cell !important;
text-align: right !important;
vertical-align: middle !important;
.keyTakeAWays ul li::before
display: table-cell !important;
text-align: right !important;
padding-right: 0rem !important;
content: “\2022” !important;
vertical-align: middle !important;
.ql-editor .keyTakeAWays ul li:not(.ql-direction-rtl)::before
margin: 0px !important;
@media (max-width: 769px)
.keyTakeAWaysContainer p:is(:first-child)
margin: 13% 1% 3% 5.5% !important;
.keyTakeAWaysContainer p:not(:first-child)
margin: 4% 1% 3% 5.5% !important;
.keyTakeAWays ul, .keyTakeAWays ol
margin: 0px !important;
.keyTakeAWays .inline_link,
.keyTakeAWaysContainer > ol > li > .link,
.keyTakeAWaysContainer > ul > li > .link
text-align: center !important;
.keyTakeAWaysTitleWrapper
width: 155px;
height: 30px;
top: -1rem;
left: 12.5%;
.ql-editor .keyTakeAWaysTitlePara
font-family: Adobe Caslon Pro !important;
font-style: normal;
font-weight: 400 !important;
font-size: 16px !important;
.keyTakeAWaysTitlePara
font-family: Adobe Caslon Pro !important;
font-style: normal;
font-weight: 400 !important;
font-size: 16px !important;
margin-top: 5px !important;
.keyTakeAWaysContainer
margin: 1% 0px 0rem 0px !important;
.keyTakeAWaysContainer li, .keyTakeAWaysContainer p
font-family: Adobe Caslon Pro !important;
font-style: normal;
font-weight: 400 !important;
font-size: 17px !important;
line-height: 24px !important;
.keyTakeAWays li::before,
.keyTakeAWays li::marker
width: 5px;
height: 24px;
font-family: Adobe Caslon Pro !important;
font-weight: 500;
font-size: 14px !important;
line-height: 24px;
color: #0F171C;
padding-right: 0em;
.keyTakeAWays ul > li::before
width: unset !important;
font-size: 18px !important;
.keyTakeAWaysPointsWrapper
box-shadow: 0px 4px 24px rgba(170, 167, 162, 0.38);
padding: 0.8rem 0.5rem 1rem !important;
.ql-editor .keyTakeAWays ol > li
padding-top: 1rem;
list-style-type: none;
list-style-position: inside;
.keyTakeAWays ol > li
padding-top: 1rem;
list-style-type: none;
list-style-position: outside;
.ql-editor .keyTakeAWays ul > li
padding-top: 1rem;
list-style-type: disc;
list-style-position: inside;
text-indent: -6% !important;
margin-left: 1em !important;
.keyTakeAWays ul > li
padding-top: 1rem;
list-style-type: disc;
list-style-position: inside;
.keyTakeAWays
margin: 2rem 1rem 3.5rem !important;
// 2rem 1rem 3.5rem !important;
.keyTakeAWaysContainer p
margin: 4% 4% 0 8% !important;
.keyTakeAWaysContainer p:last-child:has(br:only-child)
margin: 0 !important;
.ql-editor .keyTakeAWays .company-widget::after,
.keyTakeAWays .company-widget::after
height: 0.8rem !important;
width: 0.7rem !important;
.ql-editor .keyTakeAWays .company-widget,
.keyTakeAWays .company-widget
font-size: 1.12rem !important;
line-height: 0.9rem !important;
.keyTakeAWays li::before, .keyTakeAWays li::marker
padding: 0px !important;
@media (max-width: 300px)
.keyTakeAWaysTitleWrapper
left: 18% !important;
top: -1rem !important;
.keyTakeAWaysContainer p:is(:first-child)
margin: 14% 1% 3% 4.5% !important;
.keyTakeAWaysContainer p:not(:first-child)
margin: 4% 1% 3% 4.5% !important;
@media (min-width: 200px) and (max-width: 389px)
.keyTakeAWays ul > li::before
width: unset !important;
.keyTakeAWays ul > li
padding-top: 1rem;
list-style-type: disc;
list-style-position: inside;
@media (min-width: 500px) and (max-width: 600px)
.keyTakeAWaysTitleWrapper
left: 8% !important;
.keyTakeAWaysContainer p:is(:first-child)
margin: 8% 1% 3% 2.5% !important;
.keyTakeAWaysContainer p:not(:first-child)
margin: 4% 1% 3% 2.5% !important;
@media (min-width: 390px) and (max-width: 500px)
.keyTakeAWays ul li:not(.ql-direction-rtl)::before
margin-left: -1em !important;
margin-right: 0em !important;
.keyTakeAWaysContainer p:is(:first-child)
margin: 12.5% 1% 3% 5.5% !important;
.keyTakeAWaysContainer p:not(:first-child)
margin: 4% 1% 3% 5.5% !important;
@media (min-width: 768px) and (max-width: 820px)
.keyTakeAWays ul li:not(.ql-direction-rtl)::before
margin-left: -0.3em !important;
margin-right: 0em !important;
@media (max-width: 1280px)
.keyTakeAWaysTitlePara
margin-top: 5px !important;
@media (min-width: 768px) and (max-width: 768px)
.keyTakeAWaysTitleWrapper
left: 6% !important;
top: -1rem !important;
.keyTakeAWaysTitlePara
margin-top: 3px !important;
.keyTakeAWaysContainer p:is(:first-child)
margin: 8% 1% 3% 2.5% !important;
.keyTakeAWaysContainer p:not(:first-child)
margin: 4% 1% 3% 2.5% !important;
@media (min-width: 414px) and (max-width: 417px)
.keyTakeAWays ol
border-spacing: 1.6rem 2rem !important;
.keyTakeAWays ul
border-spacing: 1.2rem 2rem !important;
.glossary-story-scroll
text-decoration: none !important;
color: #000 !important;
cursor: pointer !important;
}
Key Takeaways
Fintech platform KreditBee intends to list on the stock exchanges soon.
KreditBee will enter the gold loan and loan against property segments.
The fintech company wants to explore the lucrative middle-India market next.
Fintech platform KreditBee is inching closer to a public listing. Madhusudan Ekambaram, Co-founder and CEO, KreditBee, says that the credit platform is probably one round away from an initial public offering (IPO).
In January this year, the fintech raised $100 million in an extended Series D funding led by Advent International. KreditBee is utilising the capital to serve the over 400 million middle-income population in the country.
“Currently, we are looking at product diversification. We are looking to offer gold loans and loans against property. Once that part of the puzzle is solved, we will look at an IPO,” says Madhusudan, in a conversation with Shradha Sharma, Founder and CEO, YourStory.
Taking the road less travelled, Madhusudan wants to cater to middle India with a slew of lending offerings. He says that diversification into segments, such as gold loans, is based on customer demand.
“On a personal loan, lenders can only take a certain level of exposure without any guarantees. Customers want slightly bigger loan amounts, around Rs 5 lakh to Rs 7 lakh. Traditional lenders don’t want to take this exposure for a long tenure, hence we are stepping in,” he says.
Currently, the average personal loan ticket sizes are around Rs 40,000 to Rs 50,000, with no underlying guarantees. KreditBee offers personal loans to salaried as well as self-employed borrowers.
Banking on aspirations
KrazyBee, the precursor to KreditBee, started as a student credit offering in 2016. The platform offered small-ticket loans to students for purchasing laptops, upgrading personal computers, and buying smartphones, among others. Seeing the demand over the next two years, Madhusudan and his team launched KreditBee in 2018 to expand to the mass-market segment.
Today, KrazyBee is a non-deposit taking non-banking financial company (NBFC) and is one of the digital lending partners of KreditBee. Here, KreditBee acts as a facilitator of the loans, wherein all loan applications are approved and sanctioned by the Reserve Bank of India registered banks and NBFCs.
Madhusudan believes that top-of-the-pyramid customers have a lot of options and an array of products across the industry, but there are only a few, if any, fintech solutions for aspirational customers.
“My target segment is mid-India and non-metro cities, beyond the top 15 cities. We use digital underwriting to get them into the formal credit structure,” he says.
Madhusudan explains middle India is looking for loans to upgrade their standard of living. The possibilities of how middle India could use this debt are endless. Some buy bigger TVs or get new appliances such as washing machines and air conditioners. While others use it to remodel their home and replace upholstery and home furnishing.
Emergency needs, too, are different.
According to Madhusudan, an emergency loan in mid-India might be taken to celebrate the first birthday of a girl child, including buying gold jewellery for her. This is in stark contrast to metro cities, where emergency personal loans are usually sought for medical exigencies.
Streamlining data flow
Lending can be a challenging business, purely because it is based on a principle of trust. Madhusudan says that KreditBee uses data analytics and alternative data sources as estimators for cash flows. For instance, using the payment wallet of an individual, the platform can estimate their cash flows and their creditworthiness.
“Ever since our launch, over 1 million customers have a bankable credit bureau score,” he adds.
KreditBee also works with credit bureaus and engages in conversations with these entities to help build a holistic data collection process.
Madhusudan’s work, however, is far from over.
“We get 50,000 loan applications every day but only pass through 1 in 10. We cannot process several applications due to insufficient data and that is where a lot more needs to be done,” he says.
Madhusudan also has an NBFC, KrazyBee, that is an added support to cater to the underserved and underbanked population. So, is a bank licence the next big dream?
“Getting a banking licence is a natural progression and depends on how the business is built,” he shares.
For now, Madhusudan is busy serving the grossly underserved middle India and giving wings to their aspirations.
![Read more about the article [Weekly funding roundup Aug 26-Sept 1] Venture capital inflow continues to remains low](https://blog.digitalsevaa.com/wp-content/uploads/2023/07/Weekly-funding-roundup-1670592545805-300x150.png)
