Bengaluru-based digital lending startup CrediFiable has secured undisclosed funds from early-stage investor Kae Capital.
CrediFiable focuses on personal loan segment for salaried professionals, providing loans in the range of Rs 50,000 to Rs 5 lakh along with instant EMI option, claims its website.
“Salaried professionals looking for personal loans are only concerned with three pain points – the certainty of obtaining a loan, final loan quantum and its interest rates and speed,” said Presha Paragash, CEO of CrediFiable.
Founded in 2016 by Presha Paragash, CrediFiable is a new age consumer lending platform which provides a fully online personal loan to salaried professionals. It has democratized access to credit through an intelligent credit decision-making model which goes beyond the traditional risk score.
The firm also claims to addresses these pain points without compromising on its portfolio risk.
Mumbai-based Kae Capital had closed its second fund with a corpus of $53 million, exceeding the initial target of $40 million. The VC firm got the backing of some of the country’s top entrepreneurs and global Fortune 500 companies like SIDBI, Japan’s Tekton Ventures and Axis Capital in the latest round.
As per an earlier report, the VC firm will continue to focus on seed stage deals, making 7-8 investments every year of $700,000-800,000. The larger fund allows it to take total investments in a startup to up to $5 million across series-A and series-B.