OkCredit, which provides mobile app for small merchants to keep track of their day-to-day purchases and sales, on Friday said it has raised USD 67 million (about Rs 476 crore) from Lightspeed and Tiger Global. The latest round takes OkCredit's total fundraise over the last two months to USD 83 million, a statement said.
OkCredit has a registered base of 6.5 million merchants and has grown 100X since January this year, it added. "Lightspeed has been investing in the SME segment in India for years now and we deeply appreciate how complex user acquisition is for this segment.
"OkCredit represents a rare breed of companies that are discovering digital and viral growth in a market where traditionally, feet-on-street was the only acquisition strategy," Harsha Kumar, Partner at Lightspeed India, said.
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