Digital lender Kreditbee in unicorn club with $280 million at $1.5 billion valuation

Kreditbee has closed a $280 million funding round which has catapulted the Bengaluru-based digital lending startup into the unicorn club with a post-money valuation of $1.5 billion.

The round is a mix of $220 million in primary capital to be infused into the firm and $60 million in secondary capital, where the cash is taken by existing investors in lieu of the shares they have sold.

ET had reported on February 2 that this round was in the works.