Advent may invest in KreditBee

2 Sep 2022 , 09:07 AM

Despite having launched a $4 billion fund specifically for supporting tech companies in December of last year, Advent International isn’t particularly recognized for placing bets on technology in India. However, as the international private equity company nears an investment in lending platform KreditBee, it appears that things could soon change as it is warming up to Indian companies in industries like fintech.

A $100 million (almost 800 crore) investment at KreditBee, which could put the company’s valuation at approximately $600 million, is being led by Boston-based Advent.

If the deal goes through, Advent would increase its exposure in the Indian IT industry, joining companies like TPG, which just last week announced it was funding the firm EarlySalary, which provides rapid loan disbursal. Even if the overall transaction flow in late-stage funding has noticeably slowed down, a handful of investors, including Advent, TPG, Singapore government funds Temasek and GIC NSE 1.29%, have started to sign several larger cheques, often $100 million and above.

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