Mumbai based Incredible Technologies Limited or CredR has secured an undisclosed round of funding in Debt from Stride Ventures. CredR is India’s largest and most trusted consumer brand for used motorcycles. The brand aims at resolving the most common conflicts that a buyer or seller of used automobiles may face and boasts of a robust online as well as offline platform for buying and selling the same.
The infusion of new funds will be utilized by the company for financing the purchase of automobiles.
CredR has an asset light Online-to-Offline distribution model, which has scaled rapidly to over 45 showrooms to become India’s leading used motorcycle brand in the country. While the online channel helps CredR leverage the growing internet user base to raise awareness, generate interest and build a strong brand, showrooms facilitate a standardized and transparent purchasing experience to the consumer. CredR powers exchange programs at leading OEM showrooms of Hero, Honda, Suzuki, TVS, Yamaha, Bajaj, Harley Davidson and Royal Enfield.
Commenting on the fund raise, Nikhil Jain, Co-founder, Incredible Technologies, stated, "We found excellent partner in Stride, whose deep connects in debt ecosystem and experience in asset financing segment will help us massively to scale our business. We specifically like their approach of thinking like an entrepreneur and not as conventional lender”
Ishpreet Gandhi, Managing Partner, Stride Ventures, said, "India is the biggest two wheeler market in the world. CredR is tapping into a market with enormous potential by leveraging technology enabled solutions. More importantly, by ensuring transparency and affordability without compromising on quality, they are enhancing the trust of the consumers.”
About Incredible Technologies
CredR aims to simplify the entire process of transacting in used motorcycles by offering industry’s first in class products / services for building the trust in a segment which is highly unorganized and fragmented.Company operates India’s first and largest chain of CredR branded retail showrooms across major cities like Pune, Bengaluru, Delhi NCR, Jaipur, Kota, and Hyderabad through the franchise model. These showrooms offer customers a wide range of used refurbished motorcycles at best prices.
Using its proprietary technology and full-stack vertically integrated business model, CredR is revolutionising the entire customer experience. The company raised its seed round from the likes of Rohit Bansal, Kunal Bahl, K Ganesh, Sameer Sawhney, Deb and Amit Agarwal. It is backed by institutions such as Omidyar Networks, Eight Road Ventures, Fidelity & proprietary investment arm, AngelList and GrowthStory.
About Stride Ventures
Delhi based Stride Ventures is focused on providing debt solutions to growth stage start-ups. As opposed to the ‘One Size Fits All’ approach, Stride provides tailor-made debt solutions to start-ups, enabling them to bridge the working capital discrepancy and strategically allocate capital. Bringing more than six decades of collective underwriting experience, the fund helps its portfolio companies leverage the banking ecosystem through their domain expertise and extensive network.
Stride Ventures had previously announced their first investment in Stellapps Technologies along with the first close of their maiden fund in November, 2019.
The infusion of new funds will be utilized by the company for financing the purchase of automobiles.
CredR has an asset light Online-to-Offline distribution model, which has scaled rapidly to over 45 showrooms to become India’s leading used motorcycle brand in the country. While the online channel helps CredR leverage the growing internet user base to raise awareness, generate interest and build a strong brand, showrooms facilitate a standardized and transparent purchasing experience to the consumer. CredR powers exchange programs at leading OEM showrooms of Hero, Honda, Suzuki, TVS, Yamaha, Bajaj, Harley Davidson and Royal Enfield.
Commenting on the fund raise, Nikhil Jain, Co-founder, Incredible Technologies, stated, "We found excellent partner in Stride, whose deep connects in debt ecosystem and experience in asset financing segment will help us massively to scale our business. We specifically like their approach of thinking like an entrepreneur and not as conventional lender”
Ishpreet Gandhi, Managing Partner, Stride Ventures, said, "India is the biggest two wheeler market in the world. CredR is tapping into a market with enormous potential by leveraging technology enabled solutions. More importantly, by ensuring transparency and affordability without compromising on quality, they are enhancing the trust of the consumers.”
About Incredible Technologies
CredR aims to simplify the entire process of transacting in used motorcycles by offering industry’s first in class products / services for building the trust in a segment which is highly unorganized and fragmented.Company operates India’s first and largest chain of CredR branded retail showrooms across major cities like Pune, Bengaluru, Delhi NCR, Jaipur, Kota, and Hyderabad through the franchise model. These showrooms offer customers a wide range of used refurbished motorcycles at best prices.
Using its proprietary technology and full-stack vertically integrated business model, CredR is revolutionising the entire customer experience. The company raised its seed round from the likes of Rohit Bansal, Kunal Bahl, K Ganesh, Sameer Sawhney, Deb and Amit Agarwal. It is backed by institutions such as Omidyar Networks, Eight Road Ventures, Fidelity & proprietary investment arm, AngelList and GrowthStory.
About Stride Ventures
Delhi based Stride Ventures is focused on providing debt solutions to growth stage start-ups. As opposed to the ‘One Size Fits All’ approach, Stride provides tailor-made debt solutions to start-ups, enabling them to bridge the working capital discrepancy and strategically allocate capital. Bringing more than six decades of collective underwriting experience, the fund helps its portfolio companies leverage the banking ecosystem through their domain expertise and extensive network.
Stride Ventures had previously announced their first investment in Stellapps Technologies along with the first close of their maiden fund in November, 2019.
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