CredAvenue picks up Majority Stake in SaaS Firm Corpository

Recently, CredAvenue informed that it has acquired a majority stake in a software-as-a-service (SaaS)-based credit underwriting company Corpository, at a valuation of Rs 100 crore. CredAvenure acquired this stake through a combination of primary investment and secondary purchase from existing shareholders. After this deal, all lenders on CredAvenue’s platform will be able to evaluate and make lending decisions on the platform itself. This will effectively save their time. This is the second acquisition by CredAvenue. Prior to this, CredAvenue acquired a majority stake in Spocto which is a Saas-based debt recovery platform. CredAvenue was founded by Gaurav Kumar in the year 2020 as a subsidiary of financial services marketplace Vivriti Capital.

As of now, CredAvenue has offices in Chennai, Mumbai, and Delhi. It basically connects enterprises with lenders and investors. Currently, the debt marketplace has five credit platforms: CredLoan which is a term lending and enterprise working capital solutions provider; CredCoLend which is a co-lending platform with banks and non-banking financial companies (NBFCs); Plutus, a platform that issues Bonds; CredSCF, a trade financing platform; and CredPool, a portfolio buyout solution for financial institutions.