credavenue, corpository, saas startups, gaurav kumar, credit platforms
ETtech

Gaurav Kumar, founder, CredAvenue

Bengaluru: Debt marketplace CredAvenue has acquired a majority stake in Corpository, a software-as-a-service (SaaS)-based credit underwriting company at a valuation of Rs 100 crore through a combination of primary investment and secondary purchase from existing shareholders.
With this acquisition, all lenders on CredAvenue’s platform will be able to evaluate and make lending decisions on the platform itself, thus saving time. This is the second acquisition by CredAvenue, which previously bought a majority stake in Spocto, a Saas-based debt recovery platform.
Founded in 2020 by Gaurav Kumar as a subsidiary of financial services marketplace Vivriti Capital, CredAvenue has offices in Chennai, Mumbai and Delhi. It is an enterprise debt marketplace that connects enterprises with lenders and investors.
CredAvenue currently has five credit platforms: CredLoan, a term lending and enterprise working capital solutions provider; CredCoLend a co-lending platform with banks and non-banking financial companies (NBFCs); Plutus, a bond issuance platform; CredSCF, a trade financing platform; and CredPool, a portfolio buyout solution for financial institutions. The company currently works with more than 2,300 corporates and over 750 lenders.
The startup is planning to double its headcount from 350 to 700 by the end of FY23, with a focus on building the tech and sales teams. It also aims to double its technology talent base by then.
“We are a lender-first platform and are looking at leveraging the strengths of Corpository’s SaaS-based platform to help lenders stay ahead of the curve by enabling them to evaluate and underwrite a company from within the platform seamlessly,” said cofounder Kumar.
Corpository’s SaaS-based products are used to evaluate, underwrite and monitor corporate credits using publicly available data from more than 50 sources such as the Ministry of Corporate Affairs, credit ratings, GST filings and litigation data, among others.
Presently, Corpository provides credit intelligence on more than 2.5 million Indian companies, including RBI-compliant alerts for portfolio monitoring, credit life cycle solutions to lenders, and predictive analytics.
CredAvenue was valued at $1 billion after it raised $137 million in a round of funding in March 2022 led by Insight Partners, B Capital Group and Dragoneer Investment Group.
The Chennai-based company raised $90 million in September 2021 in a round led by Sequoia Capital, and co-led by Lightspeed, TVS Capital Funds, Lightrock, Cred and Stride Ventures at a valuation of $410 million. The company raised around $10 million in its seed funding round.

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