Flipkart’s co-founder Sachin Bansal has expanded his Fintech portfolio by investing in two B2C fintech firms. Bansal has invested Rs 25 crore in Chaitanya India Finance and Rs 50 crore in Kissht, according to reports. None of the concerned parties have so far confirmed the funding news.
Reports also claimed that Flipkart’s co-founder has invested in both companies through debt, which again reinforces Bansal’s special interest in debt transactions.
Bansal has transformed into a passionate startup investor following his billion-dollar exit from Flipkart. The young tech billionaire has described his penchant for startup investment as part of his efforts to reclaim his roots in the startup ecosystem, since the ecosystem has brought all the fame and fortunes for him over the years.
As an investor, Bansal has demonstrated special interest in the fintech and finance space. Resulting in series of investment including Piramal Enterprises, Altico Capital and Indostar Capital finance. Some of these investments have taken place through Bansal’s investment firm BACQ Acquisitions.
Flipkart’s co-founder has also invested in high profile startups like Ola & Vogo and probably investment in many other well-known startups is likely to follow in coming months.
Brief information about Chaitanya India Finance and Kissht
Chaitanya India Finance is a microfinance company based in Bengaluru that lends microcredits and small finances to rural communities across Karnataka, Maharashtra and Bihar. Microfinance companies usually provide finance to especially those people who are unable to access traditional financial channels like banks and NBFC .
According to reports, Bansal already owns considerable stake in the company and is planning to take over the executive role to run daily operations.
Kissht, on other hand, is a consumer credit company that offers quick credit to consumers for online shopping. Kissht’s customers can avail loan without credit cards. The company was founded in 2015 by former Mckinsey consultants Krishnan Vishwanathan and Ranvir Singh.