IPO-bound KreditBee eyes $100-120 mn

Investment firms including Hornbill Capital and Japan's MUFG-backed Dragon Funds are evaluating a stake in lending startup KreditBee as part of a proposed $100-120 million fundraise ahead of the company's planned initial public offering, three people familiar with the matter said.

- Priyamvada C

Nomura, ICICI Securities to run fundraising process.

The largely primary round would mark KreditBee's first major capital raise since 2023. It comes as a growing number of profitable fintechs prepare to tap India's buoyant public market, offering potential exit to early investors. "The bids are due later this month and at least 3-4 funds have expressed interest in the asset," one of the people cited above said.

"The round will be largely primary with a small secondary component under which angel investors could look to sell," a second person said, adding that the deal is likely to close by later this quarter.