Debt To Prosperity

Gaurav Kumar, founder and CEO of CredAvenue, which won him the Businessworld Young Entrepreneur Award 2020, had the vision to address several issues in the Indian corporate debt market during a 15-year career. An MBA from Institute of Rural Management, Kumar served as the chief business officer of Northern Arc Capital as well as the chief executive officer of Northern Arc Investment Adviser Services, prior to co-founding Vivriti Capital. 

His long experience in the Indian debt market combined with his passion for transforming this business – like opening Indian Asset-Backed Securitisation (ABS) to microfinance -- led him to launch CredAvenue.  It has evolved into India’s most extensive debt product suite and marketplace with more than 2,300 institutional borrowers, 2,000-plus retail HNIs, institutional lending touchpoints, and more than 2 million end retail borrowers participating on the platform.  

Combining deep technology innovation with expertise in financial product design, CredAvenue is one of the very few Indian fintech platforms to have deep technology integrations with each of the top ten banks in India that form the core of the financial services establishment in the country.
Not least, CredAvenue is creating a rush lane for disruption in the Indian corporate debt market and plans to take the business up to a GTV of more than $100 billion and revenue of close to $350 million in the next five years.  

Future Plans

The next few months would see investment in data science, machine learning, and artificial intelligence to significantly improve and expand product offerings across each platform.  

Team CredAvenue today comprises more than 700 people across different verticals, whose strength has seen a significant jump during the pandemic, with more than 150 people joining in the last 12 months. 

Office expansion plans: Significant investments are being made for a new office in Bengaluru, primarily as a centre dedicated to technology. Bengaluru is a priority centre launched in October 2021 since it is a significant source of talent in cutting-edge new-age technology such as data science, core data engineering, ML, etc.