OkCredit raising $1 Mn convertible debt from parent entity


Credit management mobile app, OkCredit would be raising $1 million from its US Based holding entity OkTech Inc. The company has sought approval of its members to change its external borrowing policy and raise equity convertible debt from its parent.

As per the ROC filings accessed by Entrackr, OkCredit is raising this money for capital expenditure and working capital needs. The firm had recently raised $15 million from Tiger Global, Morningside Venture Capital, Lightspeed India Partners, Venture Highway, and Y Combinator. (Source: MCA)

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