CredAvenue, a fintech unicorn specializing in corporate debt solutions, has purchased an 82% stake in SaaS startup Corpository through a combination of primary and secondary investments from current shareholders. Corpository’s underwriting solution will assist CredAvenue’s lenders in evaluating and making loan choices more quickly as a result of this agreement, decreasing the overall length of the lending process. Corpository’s services will also keep CredAvenue’s lenders informed about borrowers’ progress. CredAvenue has joined the unicorn club after receiving $135 million in a Series B investment round in March 2022. Insight Partners, led the investment. B Capital Group, Dragoneer, Sequoia Capital, Lightrock, Lightspeed Venture, and TVS Capital Funds were other investors in the round. CredAvenue bought a 75% stake in digital collections company Spocto for roughly $52 million in February 2022. The acquisition helped the company expand its product offerings while also improving its value proposition to the banking and finance industries.
Fintech Unicorn CredAvenue Acquires 82% Stake In SaaS Startup Corpository