Indian Fintech KreditBee, PayU to Deliver Online Checkout Finance Services

KreditBee, which claims to be one of India’s leading fintech platforms, announced its partnership with PayU, a digital payments solution provider.

Together, they offer customers the option “to convert their online purchases worth between ₹2400 up to ₹2 lakhs into easy cardless EMIs during checkout.”

PayU’s 4.5 lakh+ merchant partners can now “empower KreditBee’s 10 million customer base with the ability to convert their purchases into easy cardless EMIs, with a convenient 3-18 months loan tenure.”

KreditBee’s new & existing customers “meeting the eligibility requirements will be able to avail this offer while shopping from brands associated with PayU.”

Mr. Madhusudan Ekambaram, Co-Founder & CEO, KreditBee said:

“It gives us immense pleasure to partner with PayU and extend innovative, online check out finance to the underserved and unserved segments. Our distinctive solution allows customers to conveniently convert their online purchases into hassle-free, easy EMIs. We are certain that solutions such as this will certainly contribute to the country’s digitalization and financial inclusion imperative.”

Sudhir Sehgal, Chief Business Officer – PayU payments added:

“PayU’s mission is to build the best affordability platform for online businesses in India by offering maximum coverage of lending partners and access to credit right at checkout. We believe KreditBee, with their innovative technology, is an ideal partner.”

KreditBee currently “offers multiple types of personal loans, online/offline checkout finance, and digital gold.”

The company further plans “to diversify its product offering by introducing financial services like insurance, credit score reports, and merchant-side offers, among others.”

As covered, KreditBee is “a FinTech Platform which facilitates instant personal loans to professionals, where they can avail loans up to ₹4 lakhs as per their requirement.”

With a strong focus on online tech-based and data-centric KYC, KreditBee envisions solving the financial inclusion gap “in the varied demographic segments of the country.”

The platform is “a Series-D funded entity, backed by Advent International, Premji Invest, Motilal Oswal Alternates, TPG-NewQuest, Mitsubishi UFJ Financial Group, ICICI Bank, and Mirae Asset Venture Investments.”

The company serves “the credit and other personal finance requirements through its in-house RBI-registered NBFC – KrazyBee Services Private Limited (a Systemically important NBFC) along with partnerships with over 10 renowned financial institutions.”

The company currently “serves 10 million customers across the country.”

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