China based Fosun International has led a $10 million round of funding in Mumbai-based Kissht, an online lending startup owned by OnEMi Technology Solutions Pvt Ltd. The round, which was closed last week also saw participation from Kissht’s existing backers, early-stage venture capital firms, Ventureast and Endiya Partners, according to the sources cited by Economic Times.
The fresh equity funds will be used to expand its geographic presence, across India, fortify its data science capabilities and build its engineering and analytics team quoted source. The company plans to get “deeper” in tier II and tier III cities of the country.
Prior to this fund raising, Kissht had raised around $3 million funding in its Series A round.
Kissht has currently around 40 online partners, that includes top brands like Dell Computers, Caratlane, and other alternative energy companies and clinics. On the offline side, we have, so far, about 5,000 point of sale presence.