About OkCredit
OkCredit is a company based in Bengaluru (India) founded in 2017 by Aditya Prasad, Gaurav Kunwar, and Harsh Pokharna.. OkCredit has raised $84.87 million across 4 funding rounds from investors including Lightspeed Venture Partners, Venture Highway VC and Lightspeed India. The company has 71 employees as of April 07, 2024. OkCredit operates in a competitive market with competitors including Khatabook, RecordBook, CashBook, BuKu and Apna Khata, among others.
- Headquarter Bengaluru, India
- Employees 71 as on 07 Apr, 2024
- Founders Aditya Prasad, Gaurav Kunwar, Harsh Pokharna
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Sectors
RetailMedia & Entertainment Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Psi Phi Global Solutions Private Limited
- Date of Incorporation 29 Sep, 2016
- Jurisdiction Bangalore South, Karnataka, India
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Annual Revenue
$1.15 M (USD)311.07as on Mar 31, 2023
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Net Profit
$-5.74 M (USD)58.01as on Mar 31, 2023
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EBITDA
$-5.04 M (USD)62.93as on Mar 31, 2023
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Total Equity Funding
$84.87 M (USD)
in 4 rounds
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Latest Funding Round
$67 M (USD), Series B
Sep 12, 2019
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Investors
Lightspeed Venture Partners
& 5 more
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Employee Count
71
as on Apr 07, 2024
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Funding Insights of OkCredit
OkCredit has successfully raised a total of $84.87M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $67 million completed in September 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $67.0M
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First Round
First Round
(01 Jan 2018)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2019 | Amount | Series B - OkCredit | Valuation | Tiger Global Management , Lightspeed India |
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| Jun, 2019 | Amount | Series A - OkCredit | Valuation | Tiger Global Management | |
| Aug, 2018 | Amount | Seed - OkCredit | Valuation | Y Combinator , Venture Highway |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in OkCredit
OkCredit has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Lightspeed Venture Partners, Venture Highway VC and Lightspeed India. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture and private equity investments are managed with global diversification.
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Founded Year | Domain | Location | |
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Venture capital investing in innovative startups across technology sectors.
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Founded Year | Domain | Location | |
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A venture capital firm focused on technology and innovation investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by OkCredit
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - OkCredit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Okcredit Comparisons
Competitors of OkCredit
OkCredit operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Khatabook, RecordBook, CashBook, BuKu and Apna Khata, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
App-based bookkeeping solutions are offered for small business management.
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| domain | founded_year | HQ Location |
App-based bookkeeping solutions are offered for small businesses.
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| domain | founded_year | HQ Location |
App-based accounting and cash management solutions for small businesses
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| domain | founded_year | HQ Location |
Offers an app-based platform for bookkeeping and financial solutions.
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| domain | founded_year | HQ Location |
Offers an app-based ledger for efficient account bookkeeping and management.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Okcredit
Frequently Asked Questions about OkCredit
When was OkCredit founded?
OkCredit was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Where is OkCredit located?
OkCredit is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of OkCredit?
Harsh Pokharna is the current CEO of OkCredit. They have also founded this company.
Is OkCredit a funded company?
OkCredit is a funded company, having raised a total of $84.87M across 4 funding rounds to date. The company's 1st funding round was a Seed of $2M, raised on Jan 01, 2018.
How many employees does OkCredit have?
As of Apr 07, 2024, the latest employee count at OkCredit is 71.
What is the annual revenue of OkCredit?
Annual revenue of OkCredit is $1.15M as on Mar 31, 2023.
What does OkCredit do?
OkCredit was founded in 2017 and is headquartered in Bengaluru, India, within the fintech sector. A mobile application is provided to small businesses for digitally recording credit and debit transactions. Secure management of financial records is enabled, with features including payment reminders, report generation, and multi-device access to statements. Operations focus on simplifying accounting processes traditionally handled via paper ledgers for local merchants.
Who are the top competitors of OkCredit?
OkCredit's top competitors include Khatabook, RecordBook and CashBook.
Who are OkCredit's investors?
OkCredit has 6 investors. Key investors include Lightspeed Venture Partners, Venture Highway VC, Lightspeed India, Tiger Global, and 5Y Capital.