India Fintech Startup Triples Valuation After Accel-Led Funding
- It raised $50 million in funding round led also by WestBridge
- The startup aims to expand to Southeast Asian countries
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Credgenics, an online service that helps banks collect on debt, raised $50 million in a funding round led by existing backers Accel and Westbridge Capital that tripled its valuation to $340 million.
The Indian startup will use the capital to expand to Southeast Asian countries including Vietnam and Indonesia that share characteristics such as penetration with India’s credit market, Chief Executive Officer Rishabh Goel told Bloomberg News. That valuation is up more than three-fold from its last financing in 2021.