Krednote has announced it has raised $150K in Seed funding from HNI and angel investors. The Company plans to use the fund to further build technological capabilities and expand operations.
Krednote is a fintech startup founded by IIT Kharagpur Alumnus Siddhant Jain and Capital Markets veteran Sanjay Jain. It claims to solve the credit challenges faced by small businesses in India on its tech platform through its buyer finance program.
"Through our fully stacked tech platform, we aim to disrupt the B2B credit space and have made it easy for the small businesses to access credit while keeping their suppliers at the forefront," said Siddhant Jain, Co-Founder and CEO of Krednote. "We believe that small businesses typically in rural and suburban areas are increasingly using innovative tech led credit products to finance their operations. Pandemic has accelerated technology adoption in the MSME Segment. We believe that demand for our buyer finance product will increase multiple times as we continue to fill the credit gap of $200+ billion in B2B credit space".
"B2B Credit space has several challenges which Krednote intends to solve. Their tech platform is impressive which will make it easier for small businesses to access capital," said Gopal Goenka, one of the angel investors.
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