Azim Premji, the iconic Indian industrialist and philanthropist, is a name that needs no introduction. He has been a major force in the Indian economy and a patron of many social causes. But, what is lesser known is that he also has a venture capital arm called PremjiInvest, which has made a huge impact in the Indian startup ecosystem.
PremjiInvest is an early stage venture capital firm that has been investing in Indian startups since 2006. It has been one of the most impactful investors in Indian startups and has backed some of the most successful startups in the country. One of these is Kreditbee, a digital lending platform that has revolutionized the way people access credit in India.
Kreditbee was founded in 2015 by Manikandan Thiagarajan and Prasanth Prabhakaran. The platform offers loans to customers without requiring them to visit a bank or a lending institution. The customers can avail of loans from Kreditbee through its online platform, and they get the money in their bank accounts within a few hours.
Kreditbee has become a household name in India and has been a game changer in the digital lending space. The company has grown rapidly in the last few years and has been able to raise significant investments from many investors, including PremjiInvest.
In 2020, Kreditbee raised a massive round of funding worth Rs. 75 crore from PremjiInvest. This was a major milestone for the company, and it was a testament to the faith that PremjiInvest had in the business. This investment was critical for Kreditbee, as it allowed the company to expand its operations and scale up its business.
The investment from PremjiInvest has been a major boost for Kreditbee, and it is helping the company to go from strength to strength. The company is now looking to expand its operations in other countries, and it is well on its way to becoming a global leader in digital lending.
The investment from PremjiInvest is a major validation of Kreditbee’s business model and the potential it holds in the digital lending space. With this infusion of capital, the company is now well set to pursue its mission of revolutionizing the way people access credit in India and other countries.
Kreditbee is a great example of the kind of impact that venture capital can have on a startup. The investment from PremjiInvest has been instrumental in helping Kreditbee reach new heights and become a leader in digital lending. It is a testament to the power of venture capital and how it can help startups to scale up rapidly and become successful.
Q1: Who is Azim Premji?
A1: Azim Premji is an iconic Indian industrialist and philanthropist who has had a major impact on the Indian economy and social causes. He is the founder of the venture capital firm PremjiInvest, which has been investing in Indian startups since 2006.
Q2: What is PremjiInvest?
A2: PremjiInvest is an early stage venture capital firm that invests in Indian startups. It has been one of the most impactful investors in Indian startups and has backed some of the most successful startups in the country.
Q3: What is Kreditbee?
A3: Kreditbee is a digital lending platform that has revolutionized the way people access credit in India. It was founded in 2015 by Manikandan Thiagarajan and Prasanth Prabhakaran and offers loans to customers without requiring them to visit a bank or a lending institution.
Q4: What was Kreditbee’s major milestone in 2020?
A4: Kreditbee raised a massive round of funding worth Rs. 75 crore from PremjiInvest in 2020. This was a major milestone for the company, and it was a testament to the faith that PremjiInvest had in the business.
Q5: How has the investment from PremjiInvest helped Kreditbee?
A5: The investment from PremjiInvest has been a major boost for Kreditbee, and it is helping the company to go from strength to strength. It has allowed the company to expand its operations and scale up its business. It has also been a major validation of Kreditbee’s business model and the potential it holds in the digital lending space.
Comments are closed.