New Delhi, Jun 3 (PTI) India SME Investments on Thursday said it has infused Rs 60 crore into a holding entity of KreditBee.

The latest investment comes in the form of both equity and debt, a statement said.

This round is a follow-up tranche of investment from India SME after having invested Rs 28.4 crore in September 2019 as debt in Krazybee Services, the RBI-backed NBFC-ND-SI (non-banking financial company non-deposit taking systemically important), which is a part of the holding company of KreditBee, it added.

In February, the Bengaluru-headquartered fintech lending startup KreditBee had closed its series C equity round worth USD 75 million from Premji Invest, Mirae Asset Naver Asia Growth Fund, Alpine Capital and Arkam Ventures, consisting of both primary and secondary investments.

SIDBI-backed India SME Investments focuses on investing in early-growth companies, primarily based out of/operating in tier II and III cities, targeting the lower/middle-class segment and benefiting from changing consumer preferences.

Its other investments include Citykart (largest value-retailer in UP and Bihar), Kushal's (India's largest fashion jewellery brand) and snacking company Priniti.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)