Exclusive: Y Combinator-Backed Loan Marketplace Credy Raises Fresh Funds
11 April 2019 9:33 AM GMT
Credy founders told Inc42 that the funds will be used to continue building Credy?s loan book and grow a solid distribution network within India through more partnerships.
- Bengaluru-based consumer loans marketplace Credy has raised an undisclosed amount in a Pre-Series A round of funding, Pratish Gandhi, cofounder of Credy told Inc42.
- The company has raised funds with a mix of equity and debt financing.
- Founded by ex-Goldman Sachs employees with over 21 years of cumulative experience in the finance and technology industry, Credy enables online disbursal of short ticket personal loans ranging from medical emergency, vehicle loans, to education fees loan and marriage loans.
- For the Indians who have till now largely depended on the banks and moneylenders for emergency loans consumer lending startups have brought a fresh wave of digital banking options in the country.
- Along the lines of digital lending, players such as ZestMoney, AyeFinance etc have been providing loans to B2B and B2C loans i.e. to SMEs as well as individuals while players such as LoanTap, EarlySalary, Qbera, PaySense, i2iFunding etc enable B2C i.e. customer loans.