Vertex, Sistema lead $30m Series C for India's Kissht

Existing investors Fosun RZ Capital, Ventureast, and Endiya Partners also participated in the funding round, according to media reports posted on Kissht’s Twitter. The company, which provides purchase financing and personal loans to Indian consumers, will use the new capital to improve its technology and grow its base of online and offline merchants.

Kissht was founded in 2015 by former McKinsey & Company consultants, and issues around INR600 million ($8.3 million) in loans each month. The company has partnered with more than 50 online merchants and is available at over 3,500 offline points of sale, allowing consumers to access credit for purchases in categories including consumer durables, electronics, health, and education. It is also planning to introduce its own credit card.

The new funding round brings Kissht’s capital raised to over $42 million. According to AVCJ Research the company received a $2 million funding round in June 2017 from Endiya and Ventureast. The investors were then joined by Fosun for a $10 million round in November.

Along with Kissht, several other fintech start-ups are using technology to develop improved methods of credit assessment for India’s large unbanked population. VC-backed companies in the sector include IndiaLends and MoneyTap.

Vertex is investing from its latest Southeast Asia and India fund, which closed last year at $210 million. The firm targets early-stage technology start-ups focusing on applications including e-commerce, fintech, enterprise software, and online-to-offline services.

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• Topics
• South Asia
• Consumer
• Financials
• Technology
• Expansion
• India
• Financial Services
• TMT
• Vertex Management (II)
• Fosun Group
• Ventureast