Sachin Bansal Invests $7 Mn In Consumer Lending Startup Kissht

Sachin Bansal Invests $7 Mn In Consumer Lending Startup Kissht

SUMMARY

The investment is said to be made through BAC Acquisitions

Kissht enables customers to avail digital credit for online shopping

Kissht has earlier raised its Series C round in late 2018

Flipkart founder Sachin Bansal has invested INR 50 Cr (about $7 Mn) in a consumer lending startup Kissht. The investment is said to be made in the form of debt funding through Bansal and Ankit Agarwal’s investment firm BAC Acquisitions.  

The company confirmed this development to Inc42.

Founded by Krishnan Vishwanathan and Ranvir Singh in 2015, the Mumbai-based company provides purchase financing and personal loans to its customers through a financial technology platform which is integrated with online and offline merchants.

Earlier in 2018, Kissht has raised $30 Mn in a Series C financing round led by Vertex Ventures Southeast Asia (SEA) and India and Sistema Asia Fund, along with participation from existing investors Fosun RZ Capital, Ventureast, and Endiya Partners.

Prior to its Series C round, Kissht had also raised a $10 Mn funding in a round led by Chinese investment conglomerate, Fosun International. It had also secured $2 Mn earlier in 2017 from Hyderabad-based, early-stage venture capital firm Endiya Partners and Ventureast.

The startup claims to be present in more than 50 online and over 3,500 offline points of sale across categories, including consumer durables, electronics, health, alternative energy and education, and enables customers to easily access credit for their purchases.

Earlier this month, Sachin Bansal had also infused INR 200 Cr (around $29 Mn) into Ajay Piramal owned Piramal Enterprises, which is expected to use this funding for its financial services business. Also, recent reports have claimed that Sachin Bansal is in talks to acquire in Essel Mutual Fund. 

In February, Sachin Bansal was reported to be in talks with financial experts on the potential to launch a new venture in the fintech sector. He had also reportedly met Reserve Bank of India executives to figure out the eligibility requirements for starting a bank.

Sachin Bansal had marked a huge exit from Flipkart, when the company was acquired by US retail giant Walmart for $16 Bn in 2018. 

Digital Lending Investments Drives Fintech Funding Ecosystem

Overall, digital lending has been pegged as one of the fastest growing segments in the India’s fintech space. A BCG report has predicted the digital lending industry to touch $1 Tn mark in the next five years. 

According to DataLabs by Inc42, payments tech startups accounted for 55.5% of the total fintech investments between 2014 and 2018. The top three fintech sub-sectors — payments tech, insurance tech and lending tech — combined makeup 85.7% of the total $6.97 Bn funding in Indian fintech startups in the same period.

Other players in the consumer lending space include PerkFinance, ShubhLoans, Propelld, Paytm, ETMONEY, and more. Amidst the crowded digital lending sector, Kissht competes with startups such as PayU’s LazyPay, Simpl, and ePayLater. 

Kissht was also among the top Indian fintech startups to watch out for in 2018, as per Inc42’s Startup Watchlist.

[This development was first reported by LiveMint.]

Step up your startup journey with BHASKAR! From resources to networking, BHASKAR connects Indian innovators with everything they need to succeed. Join today to access a platform built for innovation, growth, and community.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Sachin Bansal Invests $7 Mn In Consumer Lending Startup Kissht-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Sachin Bansal Invests $7 Mn In Consumer Lending Startup Kissht-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Sachin Bansal Invests $7 Mn In Consumer Lending Startup Kissht-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Sachin Bansal Invests $7 Mn In Consumer Lending Startup Kissht-Inc42 Media
Sachin Bansal Invests $7 Mn In Consumer Lending Startup Kissht-Inc42 Media
You’re in Good company