CredAvenue 11th unicorn in 2022 - Times of India

CredAvenue 11th unicorn in 2022 – Times of India

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CHENNAI: Chennai-based debt marketplace CredAvenue became the 11th startup to join the unicorn club in this year after raising $137 million in a series-B round led by New York-based Insight Partners, B Capital Group, and Dragoneer.
The funding values the company at a post-money valuation of $1. 3 billion — more than doubling from the company’s previous series-A round of $90 million in September 2021.
CredAvenue intends to use the funds to expand India business and focus on global markets both organically and inorganically. It plans to acquire diverse companies for the forward and backward services and products integration. It will also use the funds to enhance its tech capabilities by investing in deep technology innovations, AI, ML, and data analytics.
The debt marketplace connects enterprises with lenders and investors and has a portfolio of five platforms addressing areas of term lending, co-lending partnerships, bond platform, trade financing solutions, and securitisation.
CredAvenue currently has over 2,300 corporates, 750 lenders on its platform and claims to have facilitated debt volumes of over Rs 90,000 crore.



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