Draft:Kissht
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| Company Type: | Fintech Company |
|---|---|
| Industry: | Financial Technology |
| Founded: | 2015 |
| Founders: | Krishnan Vishwanathan and Ranvir Singh |
| Parent: | Si Creva Capital Services (RBI-licensed NBFC) |
| Website: | Official Website of Kissht |
Kissht is an Indian Fintech Company providing online credit to customers. Established in 2015 by Krishnan Vishwanathan and Ranvir Singh, the firm seeks to cater to quick credit needs of consumers who have no easy access to banking. Kissht primarily focuses on providing business loans, personal loan, consumer durable loan and education loan via its digital platform to enable customers for shopping or bill payments with easy and flexible repayment options.[1]
History
[edit]Kissht was established to provide accessible and high-value credit solutions at affordable pricing levels for underserved populations in India with financial inclusion as a mission theme. It is a Mumbai based company, which initiated its operations in 2020 by using technology to fasten the process of applying for and approving loans. Kissht has expanded the list of financial products it offers over time, This indicates that since founding Kissht has steadily increased its customer base and added more product lines to cater for needs across different spectrums of society.[2]
The company secured $80 million Series C round in 2022 with Vertex Growth and Brunei Investment Agency.[3] With this round of investment, Kissht has raised a total of $114.75 million in funding base and is becoming an increasingly dominant player in the digital loans market.[4]
Business Model
[edit]Kissht is a digital lending platform that offers different credit products (such as personal loans, business loans and consumer financing). The company utilizes sophisticated algorithms and data analysis to evaluate loan applications, providing customers with instant approvals and less paperwork involved. All its revenue is from the interest rate and processing fee on loans that clients take. Besides, it is also in association with NBFCs for larger scales of lending and provides such financial service as well.
The company also offers a "Buy Now, Pay Later" (BNPL) service, which allows consumers to make purchases and pay in installments. This service is particularly popular in the retail and consumer durable sectors.
Products and Services
[edit]Kissht is known for a variety of financial products catering to both retail consumers and business:
- Personal loans: These are quick loans for expending by individual consumers, such as medical invoices, educational charges, or house repairs.
- Business Loans: A specialized loan for small and midsize businesses (SMEs) to facilitate the expansion of operations or meet capital requirements.
- Credit lines: Flexible loans that can be used for different purposes.
- Merchant Financing: A program that makes it possible for businesses to sell point-of-sale instant credit, letting end customers buy an item now and pay at a later time.
- Buy Now Pay Later (BNPL): A payment method offered by an e-commerce provider that allows customers to make purchases and defer bill payments for these purchases over a period of time, typically in installments.
References
[edit]- ^ "Vertex Ventures, Sistema Asia fund back fintech startup Kissht". VCCircle. Retrieved 2024-11-23.
- ^ "Fintech startup Kissht secures ₹216 crores in series C". The Indian Wire. 2018-09-12. Retrieved 2024-11-23.
- ^ Bhalla, Tarush (2022-06-08). "Kissht raises $80 mn, to foray into challenger card segment". The Economic Times. ISSN 0013-0389. Retrieved 2024-11-23.
- ^ "Kissht raises $80 million to expand product offering". Financialexpress. 2022-06-09. Retrieved 2024-11-23.