ⓘ Featured image: Cofounders of OkCredit, from left: Harsh Pokharna, Gaurav Kunwar, and Aditya Prasad; Credits: Forbes
Haryana-based OKCredit last week announced that the company has raised INR 80 crore (around over $10 million). The funding came from OkCredit’s California-based parent entity OkTech Inc. The company also received $1 million convertible debt last year from the parent entity.
The company in a statement said that the fresh funds will be deployed towards growth and business operations.
Founded in 2017, OkCredit simplifies credit account management for shop owners and their customers in tier II and tier III cities. OkCredit app is available in over 10 vernacular languages including Hindi, Tamil, Telugu and more.
The company is also aiming to expand its business model by creating offerings for small businesses and grocery shop owners. The company has also launched a new B2C feature called ‘Nearby Store’ that allows customers to order groceries, medicine, and other items from stores in their areas via WhatsApp.