Mumbai-based fintech startup Kissht, has raised $10 million (Rs 67 crore) in a funding round led by China’s Fosun International, a report in a financial daily stated.
The funding round also saw participation from the startup’s existing investors VC firm Endiya Partners and early-stage investor Ventureast, The Economic Times reported, citing two unnamed people in the know.
Kissht is expected to use the capital raised to further grow its presence across the country, as well as a strengthen its data science capabilities, and building its engineering and analytics tep ams. In an earlier conversation with ET, e Kissht CEO Vishwanathan had said that the startup planned to expand from India’s top 15-20 cities to go deeper into the country.
Prior to the latest funding, the 2-year old company had raised about $3 million across its seed and Series-A equity financing rounds. ET was the first to report the firm’s last funding round in its edition dated June 22. Investec acted as the financial advisor to the transaction.
Founded in 2015 by Krishnan Vishwanathan, Kissht is a financial technology platform that enables instant, seamless credit for consumers to make purchases at digital points of sale (online and offline).
Recently, the startup was in news when it announce its partnership with Andhra Pradesh government and announced to setup an office Vizag fintech valley. As per a post put up by the state’s IT Minister Nara Lokesh, Kissht alone will create around 300 jobs including 50 data scientists.