Ex CFO Of Paytm Raises $2 Mn For Its Startup Kredmint
Vikas Garg, the former CFO of Paytm, has raised $2 million in its first round of funding for his new startup, Kredmint. Cred founder Kunal Shah, BharatPe cofounder Ashneer Grover, Junio cofounder Shankar Nath, Nearbuy founder Ankur Warikoo, and Yatra cofounder Manish Amin were among those who led the round.
Garg left Paytm in January to focus on his new venture. Rahul Nagar, a former vice president of business at Paytm, and Himanshu Arora, a former principal product manager at Gaana, are also cofounders of the startup. Arora has also worked in Paytm's technology and product functions.
Founded in June 2022, Kredmint is a technology platform that caters to businesses across all sectors. It provides businesses with a scalable order management system to get better visibility and control over their supply chain.
The platform is currently focusing on driving efficiencies for business-to-business (B2B) operations. Further, it is in talks to onboard four NBFCs as well as universal banks on its platform to provide financing to customers.
A company official stated that the platform is looking to scale its loan book up to Rs 1,000 crore over the next three years. The interest rates on loans offered on the platform range between 18 and 22 percent.
