Fintech startup Kissht raises $2 million from early-stage tech fund

NEW DELHI: Fintech startup Kissht has raised $2 million from early-stage technology-focused fund Endiya Partners and Ventureast. Kissht is also in the process of raising its series-B round of investment. The company had also raised angel funding earlier so the total funds raised by the company stands at $2.7 million.

Founded in 2015, Kissht provides collaterial-free loans to consumers to facilitate purchases such as mobiles, laptops, jewellery and electronics. The company currently lends through its captive NBFC using it as a proof-of concept vehicle to innovate on consumer loan disbursements.

“Going forward, we will be a data and analytics company enabling consumers to get loans from banks and NBFC working with us as lending partners,“ said Krishnan Vishwanathan, CEO, Kissht.

“We have a large population, decent number of smartphones and bank accounts.However, while we have about 600 million debit cards, credit cards are only about 30 million in India, which is a huge gap underlining the opportunity for consumer lending companies,“ said Sateesh Andra, MD, Endiya Partners.