CredAvenue claims to be the largest co-lending platform in India
The enterprise lending platform has enabled loans of Rs 5,000 crore on the platform during FY 2021
Tuesday April 12, 2022,
2 min Read
Enterprise-focused debt marketplacehas announced that its co-lending platform enabled a Gross Transaction Value of Rs 5,000 crore on the platform in the financial year 2021. The company also claimed that the CredCo-Lend platform has also recorded 80,000 transactions per day in December 2021, with over two million underlying loans through the platform.
With these metrics, the company claimed to be the market leader in the co-lending space, in a statement issued today. CredAvenue said it had partnered with over 240 co-lending partners and over 500 lenders including PSUs, private lenders and NBFCs. The platform offers debt for 15 asset classes and has registered 14.5 lakh transactions. The platform currently has over 2300 corporates on its platform and over 750 lenders.
“Co-lending is poised to grow massively in the near future, and we are excited to be the preferred partner of most of the Banks, NBFCs and fintech firms,” Gaurav Kumar, founder and CEO of CredAvenue said in the statement.
He further added, “At CredAvenue, our aim has always been to lead when it comes to debt investing solutions. Our co-lending platform offers an end-to-end technology stack for partners to manage the entire life cycle of the co-lending product.”
The Chennai-headquartered company was valued at over $1 billion in its recent round of funding in March, 2022, led by Insight Partners, B Capital and Dragoneer. A subsidiary of financial services marketplace Vivriti Capital, CredAvenue has a portfolio of five platforms including its lending platform CredLoan, origination platform CredCo-Lend, bond issuance platform Plutus, supply chain financing platform CredSCF and end to end securitisation platform CredPool.
Edited by Affirunisa Kankudti