KreditBee is bringing revolution to personal loan sector in India being the Fastest Personal Loan Platform
Innovation in payment echo system is growing much faster now compared to years back - the reason being, all of a sudden, everyone is now in go digital mode. Be it consumers, be it financial institutions or private lenders. And interestingly, when there is massive cry about the economy falling down, lenders have lot of money and looking for opportunities on where to spend their money and get good returns. Taking this opportunity, this start up KreditBee is targeting young personals with a very fast personal loan process that would land the money in your bank account in 15 minutes.
Sounds great, isn't it ? You won't get a personal loan so fast in any other platform. You may get it from your bank, only if you have a credit card and your credit score is pretty good. But imagine, you need some fund in emergencies like hospitalization - this would come to rescue. And their interest rate for salaried people is not bad - 1.02% p.m. flat which comes around 12.24 % - Even banks charge so much, but they won't give you the money in 15 mins.
They just raised $75 Million funding yesterday from various investors which includes Premji Invest. If you know Premji who built Wipro then you know he definitely foresees value in this start up. The number of people earning between 15 -30k per month is massive and they are targeting that sector - because they never were interested to take a credit card even. They were always happy with a basic salary account and cash. But as things are going digital - they are very much acquainted with apps that can be used for payments using UPI connecting to their bank account. But none of these apps provided a loan facility and KreditBee is providing a niche solution.
And if all that is not enough, then they offer an Online Purchase Loan 😀 without any Card. And see their partnership - almost every Indian purchase online from one of these platforms.
I am sure, they are going to grow massive by taking this opportunity of going digital. What do you say ?