Student-centric micro-lending platform KrazyBee is now eyeing young professionals and plans to expand its reach by a lakh.
KrazyBee chief operating officer Gowrinath Raghava on Sunday said, as many as 7 lakh applications were received, out of which these 2 lakh applicants have ‘benefited’.
Mr. Raghava was speaking on the sidelines of the announcement of two-day HedNxt Startup Fest 2018, which is scheduled to begin on October 26. The fest will be sponsored by Mi-Incubator and Kingsoft WPS which are KrazyBee programme and technology partners. The media parter is Welike.
Mr. Raghava said in the current year, loans worth between ₹140 crore and ₹150 crore have been disbursed and the company has seen a monthly growth rate of 20% to 25%. “We are expecting to cross ₹1,000-crore disbursement this financial year,” he said, and added that Xiaomi is the company’s investment partner and also a strategic investor.
The startup fest is open for both college students and entrepreneurs. There have been over 100 entries thus far. However, the KrazyBee is expecting around 500 such applications. The three winners will be given a ₹1-lakh cash award each by Welike.
