Lending startup Kissht has raised Rs 100 crores in funding led by Trifecta Capital and Northern Arc. The company has so far raised over Rs 270 crore in equity and over 1,200 crore in debt investments.
In the current round, Trifecta and Northern Arc have subscribed to Rs 50 crore of Non ConvertibleDebentures (NCD’s) each.
The proceeds will be used to deepen the company’s presence across India and further expand its product offering including credit cards for the owners of small business/shops, said Kissht in a press release.
Founded in 2015 by Karan Mehta, Kissht provides an instant line of credit for small business transactions and small ticket size personal loans to new to credit customers on the back of robust data analytics (Kissht score).
The startup plans to expand its business to 10 million unique borrowers and total transaction-like credit volume to Rs 10,000 crore in FY23. Kissht is projecting an overall revenue of over Rs 500 crore and a PBT of over 50 crore for FY22.
