KreditBee eyes offline expansion to reduce loan disbursement timelines

Online lending start-up KreditBee is looking to set up physical stores to expand business and reduce loan processing time. This comes a few months after it raised $200 million in a Series D round despite the ongoing funding winter.

Since its major fund-raise in January this year, the Bengaluru-based start-up has been diversifying its digital product offerings through B2B financial products, including unsecured small and medium enterprise (SME) loans. But now it will go phygital (physical and digital), Madhusudan Ekambaram, co-founder and CEO of KreditBee told Moneycontrol.

KreditBee, originally known for its personal loan products, has already launched its unsecured SME loans of ticket sizes Rs 3-7 lakh with repayment tenures of 12-36 months. This line of credit currently adds up to about Rs 30 crore of monthly business, compared to Rs. 1,500 crore of business from other existing products, Ekambaram said.