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MUMBAI : Debt platform CredAvenue on Wednesday said it has raised $90 million in equity capital in a funding round led by Sequoia Capital, and co-led by Lightspeed, TVS Capital Funds, Lightrock and others. The funding values the company at approximately $410 million.

Avendus Capital was the exclusive financial advisor to CredAvenue on the transaction.

CredAvenue’s debt platform offers lending institutions and enterprises solutions for discovery and execution across a wide range of products. To date, the startup has facilitated transactions worth around $9 billion through the platform, engaging with over 1,500 institutional borrowers and more than 750 investors and 1 million end-retail borrowers.

The funds raised in this round will be used to expand product capabilities and ramping up the platform’s technology and data science infrastructure. The company aims to invest heavily in data science, machine learning and artificial intelligence over the next few months to significantly improve and expand its product offerings, across each of its sub platforms.

“At CredAvenue, our objective is to revolutionize the debt market through technology and innovation. We are the only enterprise debt platform offering all forms of debt, both in India and globally and this reflects in the scale of business done by our platform since inception. We are delighted to welcome the Series A investors to our journey. They will catalyze our mission with capital and guidance, to keep expanding our lead in this market," said Gaurav Kumar, Founder & CEO, CredAvenue, said,

CredAvenue has over 350 employees spanning across different verticals - technology, sales, marketing, strategy, HR. It expects to double its headcount to 700 by the end of FY22. The company also plans on global expansion and inorganic growth through strategic acquisitions.

The organisation has a portfolio of five platforms catering to both borrowers and investors: CredLoan - term lending and working capital solutions for enterprises; CredCoLend - for banks and NBFCs for co-lending partnerships; Plutus - bond issuance and investment for institutional and retail participants; CredSCF - trade financing solutions and CredPool - end-to-end securitisation and portfolio buyouts.

In addition, the company also offers portfolio management and monitoring services as a SaaS offering to its borrowers and lenders.

"CredAvenue is a unique solution that not only simplifies access to credit for borrowers ranging from a BB to AA rating but also improves access to multiple debt products like bonds, supply chain financing, etc. on a single unified platform. We believe, it has the opportunity to become the platform of choice for borrowers and lenders operating in the debt market," said Sakshi Chopra, MD, Sequoia India.

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