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Kissht raises $30m Series C, led by Vertex Ventures& Sistema Asia Fund
Release Time: 2018-09-25
India’s leading Fintech Consumer lending platform, Kissht has raised $30m in its Series C funding round led by Vertex Ventures, the venture capital arm of Singapore state investor Temasek Holdings and Sistema Asia Fund with participation from existing investors, Fosun RZ Capital, VenturEast & Endiya Partners.
Founded in 2015 by Krishnan Vishwanathan and Ranvir Singh, Kissht provides product financing and personal loans to its customers through a financial technology platform which is integrated with online and offline merchants. Kissht has developed its own self-learning proprietary algorithm which assesses a customer’s credit profile in a fraction of a second based on 2,000+ digital footprints.
Kissht has demonstrated remarkable growth with impressive record on credit costs. The business had previously raised its Series B round from Fosun RZ Capital, Prophet Capital, VenturEast and Endiya Partners in 2017.
Currently Kissht is present in 50+ Online and 2,000+ Offline points of sale across categories including consumer durables, electronics, health, alternative energy & education, enabling customers to easily access credit for their purchases.
Kissht will use this funding to penetrate its business further into both offline and online merchants, and deeper across categories and further enhance its data and analytics capabilitiesas it seeks to cement its leadership position in the highly underpenetrated Indian consumer credit market, as well as investing further in technology and building the team.
Investec India which had advised Kissht on its Series B fundraise, acted as exclusive financial advisor to Kissht on this transaction.
Krishnan Vishwanathan, CEO and Co-Founder of Kissht, said: “At Kissht, we are continuously striving for innovative affordability solutions that do justice to the growing and aspirational middle-class of India. Our data-centric algorithms and technology platform allows us to underwrite the new to credit and excluded segments extensively while ensuring we are risk prudent. We will use the funding to further accelerate growth.”
Commenting on the transaction, Ben Mathias, Managing Partner at Vertex Ventures, said “[●]”
Dhruv Kapoor, Managing Director at Sistema Asia Capital, said “[●]”
Notes to Editors:
About Kissht:
Kissht is an EMI payment and digital lending platform. With a variety of EMI payment options, Kissht aims at empowering online as well as offline Merchant stores and online ecommerce platforms to provide easy and quick EMI to customers who wish to purchase Mobiles, Laptops, Cameras, Furniture’s, AC, Watches, Home & Kitchen Appliances, travel, health and education services and many more through easy EMI instalments. Through use of alternate data and proprietary algorithms, our unique EMI payment gateway makes aspiration affordable to new to credit and lower income segments. Kissht offers a hassle-free experience of shopping online as well as offline Merchant stores by offering quick and Easy EMI at Point of Sale. Our EMI Payments Gateway integration uses super simple APIs to go live instantly. With a wide range of products across various categories and convenient, get set to enjoy a simple, stress-free and smart online as well as offline shopping experience with Kissht. We also provide personal loans to customers via our financial technology platform. Kissht was founded in 2015 by IIT graduates and former McKinsey consultants who have extensively served financial services firms.
About Fosun RZ Capital:
Fosun RZ Capital is a leading venture capital fund rooted in China and covering the world’s major economic areas. Fosun RZ Capital is based in Beijing and backed by Fosun. As one of the few international venture capital platforms in China, RZ Capital has fostered innovation ecosystems in China, U.S., and India, with offices in Shanghai, Shenzhen, Silicon Valley, New Delhi and Bangalore. RZ Capital invests in Angel to VC and growth stages, with focus on Internet application on Industries and frontier technologies.
Founded in 2015 by Krishnan Vishwanathan and Ranvir Singh, Kissht provides product financing and personal loans to its customers through a financial technology platform which is integrated with online and offline merchants. Kissht has developed its own self-learning proprietary algorithm which assesses a customer’s credit profile in a fraction of a second based on 2,000+ digital footprints.
Kissht has demonstrated remarkable growth with impressive record on credit costs. The business had previously raised its Series B round from Fosun RZ Capital, Prophet Capital, VenturEast and Endiya Partners in 2017.
Currently Kissht is present in 50+ Online and 2,000+ Offline points of sale across categories including consumer durables, electronics, health, alternative energy & education, enabling customers to easily access credit for their purchases.
Kissht will use this funding to penetrate its business further into both offline and online merchants, and deeper across categories and further enhance its data and analytics capabilitiesas it seeks to cement its leadership position in the highly underpenetrated Indian consumer credit market, as well as investing further in technology and building the team.
Investec India which had advised Kissht on its Series B fundraise, acted as exclusive financial advisor to Kissht on this transaction.
Krishnan Vishwanathan, CEO and Co-Founder of Kissht, said: “At Kissht, we are continuously striving for innovative affordability solutions that do justice to the growing and aspirational middle-class of India. Our data-centric algorithms and technology platform allows us to underwrite the new to credit and excluded segments extensively while ensuring we are risk prudent. We will use the funding to further accelerate growth.”
Commenting on the transaction, Ben Mathias, Managing Partner at Vertex Ventures, said “[●]”
Dhruv Kapoor, Managing Director at Sistema Asia Capital, said “[●]”
About Kissht:
Kissht is an EMI payment and digital lending platform. With a variety of EMI payment options, Kissht aims at empowering online as well as offline Merchant stores and online ecommerce platforms to provide easy and quick EMI to customers who wish to purchase Mobiles, Laptops, Cameras, Furniture’s, AC, Watches, Home & Kitchen Appliances, travel, health and education services and many more through easy EMI instalments. Through use of alternate data and proprietary algorithms, our unique EMI payment gateway makes aspiration affordable to new to credit and lower income segments. Kissht offers a hassle-free experience of shopping online as well as offline Merchant stores by offering quick and Easy EMI at Point of Sale. Our EMI Payments Gateway integration uses super simple APIs to go live instantly. With a wide range of products across various categories and convenient, get set to enjoy a simple, stress-free and smart online as well as offline shopping experience with Kissht. We also provide personal loans to customers via our financial technology platform. Kissht was founded in 2015 by IIT graduates and former McKinsey consultants who have extensively served financial services firms.
About Fosun RZ Capital:
Fosun RZ Capital is a leading venture capital fund rooted in China and covering the world’s major economic areas. Fosun RZ Capital is based in Beijing and backed by Fosun. As one of the few international venture capital platforms in China, RZ Capital has fostered innovation ecosystems in China, U.S., and India, with offices in Shanghai, Shenzhen, Silicon Valley, New Delhi and Bangalore. RZ Capital invests in Angel to VC and growth stages, with focus on Internet application on Industries and frontier technologies.
