Sistema’s venture arm invests in Indian credit startup

Sistema Asia Capital, one of the corporate venturing vehicles of the Russian conglomerate AFK Sistema, is one of the main investors in a $30 million funding round for Indian e-credit startup Kissht. Singapore’s Vertex Ventures SEA (Temasek Holdings) has co-led the round, which also involved existing investors, Indian funds VenturEast and Endiya Partners, and China’s Fosun RZ Capital.

Founded in 2015, Kissht provides collateral-free loans for products such as electronic appliances, jewellery, cars or furniture. This service is available at over 50 online merchants, including Flipkart and Amazon, and more than 3,000 offline points of sale, claims the startup.

Clients repay through equated monthly instalments (EMI) using the Kissht EMI card.

Sistema Asia Capital (initially known as Sistema Asia Fund) targets essentially startups operating in the technology and niche consumer retail segments in India and Southeast Asia.  The fund has established its headquarters in Singapore and an office in India.

Since its inception in early 2016, Sistema Asia Capital has invested in a variety of Indian startups, including (non exhaustively):

Topics: Banking technologies, Corporate venturing, Finance, Fintech, International, News, Venture / Private equity
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