KrazyBee to expand in 11 more cities this fiscal

KrazyBee, one of the largest micro-lending platforms in India, focusing on financing students and their education, would expand its business in 11 more cities during this fiscal, a top officials said today.
Presently in Bengaluru, Hyuderabad, Vellore, Pune and Mysuru cities, Krazybee is expanding its business in the city, the company founder and CEO, E Madhusudan told reporters here.
Stating that the company has done a business of Rs
100 crore during this fiscal, he said that it expected the year to end with Rs 150 crore lending.
As far as fund for lending, Madhusudhan said that it has raised eight million USD from Xiomi technologies and Shunwei Capital in October last and so far received 13 million USD since its inception in May last year.

With over four lakh registered borrowers on its platform, KrazyBee currently processes over 3,000 loan applications and disburses around 1,700 of them per day, Madhusudan said.