Fintech startup Kissht has recently raised around ₹12 Crore ($2 million) from early-stage technology focused funds Endiya Partners and Ventureast. The fintech startup is also looking forward to raise its series-B round of investment. The company had also raised angel funding earlier so the total funds raised by the company stands at ₹17 Crore ($2.7 million).
The startup was founded in 2015 and from then onwards they are providing collateral free loans to consumers to facilitate purchases such as mobiles, laptops, jewellery and electronics. The company currently lends through its captive NBFC using it as a proof of concept vehicle to innovate on consumer loan disbursements, so that there will be no extra burden on the consumer.
Krishnan Vishwanathan, CEO of Kissht mentioned that “Going forward, we will be a data and analytics company enabling consumers to get loans from banks and NBFC working with us as lending partners,“
Sateesh Andra, MD of Endiya Partners commented that “We have a large population, decent number of smartphones and bank accounts.However, while we have about 600 million debit cards, credit cards are only about 30 million in India, which is a huge gap underlining the opportunity for consumer lending companies,“