Total amount raised
$62.5 Million
Latest funding date
06/01/2024
Location
KrazyBee has successfully raised funds over 7 rounds, with the latest being a Debt Financing round. The platform is backed by 20 investors, including recent ones like Yubi and dezerv.
Keep reading to explore the intricacies of KrazyBee's fundraising journey and the investors supporting this innovative financial services platform.
What Is KrazyBee?
KrazyBee is a non-banking financial institution that provides digital credit and lending solutions. The company operates in the credit, e-commerce, financial services, and lending industries.
Founded in Bangalore, Karnataka, India, KrazyBee has an employee count between 501-1000. The company is private and has raised funding over 7 rounds, with a total of 20 investors, including Yubi and dezerv.
How Much Funding Has KrazyBee Raised?
- Seed Round
- Amount Raised: USD 2,000,000
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial product offering.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: December 2016
- Lead Investors: Plum Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Series A
- Amount Raised: USD 8,000,000
- Date: October 2017
- Lead Investors: Shunwei Capital, Xiaomi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the lending platform and increase market penetration.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for lending operations.
- Series B
- Amount Raised: INR 1,000,000,000 (approx. USD 13,000,000)
- Date: April 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market reach and product offerings.
- Debt Financing
- Amount Raised: INR 240,000,000 (approx. USD 3,200,000)
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure working capital for ongoing operations.
- Debt Financing
- Amount Raised: USD 32,000,000
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster the company's lending capacity and support growth initiatives.
KrazyBee has raised a total of USD 61,200,000. The current valuation is Not publicly disclosed.
Key Investors
- Xiaomi
- Details: Xiaomi is a Chinese electronics company that invests in various technology startups and companies. It is known for its smartphones, smart home devices, and other consumer electronics.
- Investment Focus Areas: Technology, Consumer Electronics, Internet of Things (IoT)
- Notable Investments: Xiaomi has invested in various technology startups and companies, including those in the consumer electronics and IoT sectors.
- Shunwei Capital
- Details: Shunwei Capital is a venture capital firm based in China that focuses on investing in technology companies. It was co-founded by Lei Jun, the founder of Xiaomi.
- Investment Focus Areas: Technology, Internet, Mobile
- Notable Investments: Shunwei has invested in several technology companies, particularly in the internet and mobile sectors.
- Plum Ventures
- Details: Plum Ventures is a venture capital firm that invests in early-stage startups. It is known for its focus on innovative and high-growth potential companies.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Plum Ventures has invested in various early-stage startups across different sectors.
- InnoVen Capital
- Details: InnoVen Capital is a venture debt firm that provides debt capital to high-growth companies in Asia. It is a joint venture between Temasek Holdings and United Overseas Bank.
- Investment Focus Areas: Technology, Financial Services, Healthcare
- Notable Investments: InnoVen Capital has provided debt financing to numerous high-growth companies across Asia.
- Yubi
- Details: Yubi is an investment firm that focuses on supporting innovative startups and companies. Specific details about Yubi are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for KrazyBee?
With a significant investment of USD 8 million led by Xiaomi and Shunwei, KrazyBee is poised to expand its services to a broader audience of students and professionals in India. This funding provides a substantial opportunity to scale operations, enhance technology, and boost marketing efforts, positioning KrazyBee for significant growth in the fintech sector.
As the fintech industry continues to grow, particularly in the realm of online loans and micro-financing, KrazyBee is well-placed to attract further investments. The involvement of prominent investors suggests that future fundraising rounds could bring in even more capital, enabling the company to expand its market reach and service offerings.
However, KrazyBee may face challenges such as regulatory hurdles, competition from other fintech companies, and ensuring the creditworthiness of borrowers. Navigating these challenges will be crucial for sustaining growth and maintaining investor confidence.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like KrazyBee and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.
