Micro lending platform KrazyBee recently launched its operation in Pune. Speaking at the occasion, E Madhusudan, founder and CEO of KrazyBee, said they have plans to expand to 11 cities by the end of the year.
“KrazyBee is present in more than 200 colleges in Pune and has over 200 Campus Managers (Student Interns) in Pune alone. We are serving students in all reputed colleges in Pune and because of the response we received here, we have expanded to Mumbai, and lately to Nashik and Nagpur as well. Very soon, we shall be opening up our services to young professionals working in Pune,” said Madhusudan.
KrazyBee offers financial aid for e-commerce purchases, two-wheeler loans, student education loans and top-ups.
The company is also an internship provider and has tied up with as many as 800 colleges across 11 cities for the Campus Manager Internship programme.
The firm has recently raised $8 million in a Series A funding led by Xiaomi Technologies and Shunwei Capital.
This latest round of funding will be used for strengthening the risk model and algorithm, help cater to new market segments and focus on product diversification and geographical expansion in existing segment.