KrazyBee Raised $8 Mn Series A Funding
City based micro-lending platform KrazyBee, primarily focused towards purchase finance, today said it has raised $8 million in a Series A financing, led by Xiaomi Technologies and Shunwei Capital.
Others who participated in the investment are E-city Ventures and RK Group and the Series A funding is a mix of equity and debt (majorly equity), the company said in a release. Total composite funding received by KrazyBee till date is USD 13 million that includes a Seed Fund of USD two million and Pre-Series A funding of USD three million.
The latest round of funding will be used to strengthen the risk model and algorithm, catering to new market segments and focusing on product diversification and geographical expansion in existing segments, KrazyBee said.
"We are actively working towa...