Total amount raised
$142.5 Million
Latest funding date
6/1/2022
Location
Kissht has successfully raised funding over 8 rounds, with the latest being a Series E round. The company is backed by 13 investors, including Brunei Investment Agency and Endiya Partners.
Keep reading to explore the intricacies of Kissht's fundraising journey and the investors backing this financial technology platform.
What Is Kissht?
Kissht is a financial technology platform based in Mumbai, Maharashtra, India. The company specializes in providing loans and credit for consumers, operating in sectors such as credit, financial services, fintech, lending, and sales automation.
Founded with the aim of simplifying access to credit, Kissht has grown significantly, employing between 501 and 1000 people. The company offers a range of loan products, including personal loans, business loans, and loans against property, emphasizing quick approvals and minimal documentation.
How Much Funding Has Kissht Raised?
- Series E
- Amount Raised: USD 80,000,000
- Date: June 2022
- Lead Investors: Brunei Investment Agency, Vertex Growth Fund
- Valuation at Round: USD 500,000,000
- Motivation Behind the Round: To expand product offerings, including credit-backed cards and a new millennial-focused brand called Ring.
- Series D
- Amount Raised: USD 13,300,000
- Date: January 2022
- Lead Investors: Northern Arc, Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing efforts to scale and improve the company's offerings.
- Debt Financing
- Amount Raised: USD 6,500,000
- Date: July 2019
- Lead Investors: Navi Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase the loan book size and improve technology backend.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: iLabs Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion in the financial technology sector.
- Series C
- Amount Raised: USD 30,000,000
- Date: September 2018
- Lead Investors: Sistema Asia Capital, Vertex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product design and scale up operations.
- Series B
- Amount Raised: USD 10,000,000
- Date: November 2017
- Lead Investors: Fosun RZ Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market reach and improve technology infrastructure.
- Series A
- Amount Raised: USD 2,000,000
- Date: June 2017
- Lead Investors: Endiya Partners, VenturEast
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Seed
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the company and develop its initial offerings.
Total Amount Raised: USD 141,800,000. Current Valuation: USD 500,000,000.
Key Investors
- Brunei Investment Agency
- Details: The Brunei Investment Agency is a government-owned investment organization that manages the sovereign wealth of Brunei. It focuses on a diverse range of asset classes globally.
- Investment Focus Areas: Technology, real estate, financial services
- Notable Investments: Various global assets and companies
- Vertex Growth Fund
- Details: Vertex Growth Fund is a growth-stage venture capital firm that invests in high-growth companies. It aims to support companies in their expansion phases.
- Investment Focus Areas: High-growth technology companies, financial services, healthcare
- Notable Investments: Grab, PatSnap, FirstCry
- Northern Arc
- Details: Northern Arc is a financial services platform that connects underbanked individuals and businesses with investors. It provides structured finance solutions.
- Investment Focus Areas: Financial inclusion, microfinance, small and medium enterprises (SMEs)
- Notable Investments: Not publicly disclosed
- Trifecta Capital Advisors
- Details: Trifecta Capital Advisors is a venture debt firm that provides financing solutions to high-growth startups in India. It focuses on providing flexible capital.
- Investment Focus Areas: Technology, consumer services, healthcare
- Notable Investments: BigBasket, UrbanClap, CarDekho
- Endiya Partners
- Details: Endiya Partners is a venture capital firm that invests in early-stage startups in India. It focuses on technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: SigTuple, Darwinbox, Kissht
What's Next for Kissht?
With the launch of their new millennial-focused brand, Ring, Kissht is poised to tap into a vast market of over 150 million underserved young consumers in India. The introduction of credit-backed cards and buy-now-pay-later (BNPL) services presents a significant growth opportunity, aiming to issue 10 million cards within the next 12-18 months. This expansion is supported by a robust network of over 100,000 merchants, enhancing Kissht's market reach and customer acquisition.
Given the successful $80 million funding round, future fundraising opportunities seem promising. The company’s aggressive growth plans and the burgeoning BNPL market, projected to be a $40 billion opportunity by 2025, could attract further investments. Kissht's focus on enhancing product design and technology backend will be crucial in maintaining its competitive edge and scaling operations.
However, challenges such as intense competition from other fintech companies and regulatory scrutiny could pose hurdles. Ensuring customer retention and adapting to evolving consumer preferences will be vital for sustained growth. Despite these challenges, Kissht's strategic direction and market potential position it well for future success in the fintech sector.
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