CredAvenue sets up tech development centre in Bengaluru

Debt platform, CredAvenue, on Friday announced the inauguration of its technology development centre in Bengaluru where it aims to hire 200 technology experts by FY23.The firm, which has offices in Chennai, Mumbai and Delhi, currently has over 350 employees.

Debt platform, CredAvenue, on Friday announced the inauguration of its technology development centre in Bengaluru where it aims to hire 200 technology experts by FY23.

The firm, which has offices in Chennai, Mumbai and Delhi, currently has over 350 employees. It expects to double its headcount to 700 by the end of FY22. CredAvenue said in a statement it plans to evolve its platform by deploying technologies like data science, machine learning, and artificial intelligence in the coming few months. Founder & CEO, CredAvenue, Gaurav Kumar, said: "Our platform currently services 1000-plus issuers, 200 investors and has enabled a debt flow of USD eight billion to date.'' CredAvenue recently raised USD 90 million in a Series A funding round at a valuation of USD 410 million, it was noted.

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