Sachin Bansal stretches his fintech portfolio with investment in Kissht

Sachin Bansal’s fintech play is ramping up at a pace where everyday springs up a new headline mentioning his investment in a new fintech startup.

Yesterday, it was Chaitanya India, a couple of days before that it was Essel Group’s mutual fund business and then there was the investment in Piramal Group’s fintech arm.

Today, media reports mention Sachin Bansal investing Rs 50 crore in consumer lending startup Kissht. As usual, this investment has also been made via the debt route from Bansal's new business entity BAC Acquisitions (BACQ), where the details of the transaction are uncertain yet.

This development counts the fact that being a purchase financing startup Kissht derives a major part of their business from Sachin Bansal’s last entrepreneurial gig - Flipkart. 

So far, the company has raised $42 million in risk capital, $2 million Series B round in June 2017, $10 million extended Series B round in November 2017, and $30 million Series C round in September last year. The major investors in the firm are Fosun RZ Capital, Vertex Ventures, Sistema Asia Fund, Ventureast, and Endiya Partners.

The digital lender now has plans to raise another $50 million (Rs 350 crore) in an equity funding Series D round, as per TOI's sources.

Ranvir Singh and Krishnan Vishwanathan started the company in 2015 to aid purchases of items such as laptops, mobile phones, jewellery, electronics and other such consumer durable items with collateral-free loans. Kissht has partnered with Amazon, Flipkart, Luminous, Intex, Caratlane, MakeMyTrip and Uber, and others for the same.

The debt investment in this fintech firm by Sachin Bansal marks eighth such transaction in the past 5 months, and fourth in the past 1 week. Apart from the aforementioned four investments of the past week, he has invested in fintech startup KrazyBee and NBFCs Altico Capital, Indostar Capital, and Northern Arc Capital. All of these firms saw him investing via debt route.