CredAvenue, India’s largest debt platform, today announced its partnership with SBM Bank (India) Ltd. This alliance will help the bank manage its assets and mortgage-backed securities portfolio accurately and efficiently through CredAvenue’s CredPool platform.

This association will also help SBM Bank facilitate granular monitoring of diverse portfolios for performance while complying with the evolving regulatory requirements.

CredAvenue, through its technology-backed platform, will also provide post-transaction fulfilment services for SBM Bank’s ABS/MBS portfolio. Furthermore, CredAvenue will automate NPA recognition and regulatory reporting solutions by directly integrating with the bank's core systems.

Irfan Mohammed, Chief Business Officer, CredAvenue, shared, “We are happy to extend our services for all the securitisation needs of SBM Bank that includes providing a wide array of investment options, managing seamless execution of transactions as well as post disbursal monitoring. We are sure that CredAvenue’s platform CredPool will bring unparalleled efficiency and a data-driven approach to the bank’s operational systems and engagement with channel partners.”

Backed by marquee investors like Sequoia Capital, Insight Partners and LightSpeed, CredAvenue aims to revolutionise the Global Debt Ecosystem. CredAvenue raised India’s largest Series A funding of $90 million in September 2021 and subsequently raised $137 million in series B funding in early March this year, i.e., within six months of the Series A fundraise.

With this fresh round of funding, CredAvenue’s valuation has tripled to reach $1.3 bn, and it has entered the Unicorn club, becoming India’s fastest Fintech Unicorn in 18 months since its inception.