Within 60 days of its launch, digital lending platform KreditBee has issued over 1 lakh cards. It intends to expand its portfolio by issuing over one million cards by March 2022, according to a statement.
KreditBee is a fintech platform that provides professionals with instant personal loans. Over 75% of the company’s card customers are from metros and Tier-1 cities such as Bengaluru, Mumbai, Hyderabad, Pune, and Thane, among others. Currently, nearly 70% of these cardholders are under the age of 30. Customers can obtain credit limits of up to Rs 10,000, which must be repaid within a single billing cycle.
Madhusudan Ekambaram, co-founder and CEO of KreditBee, said that KreditBee cards will function as virtual cards for borrowers of all demographics and income levels. The virtual card is created in the KreditBee app and can be used for transactions instantly.
