# Credenc Web Technologies Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/credenc-web-technologies-private

- Industry: Financial Services
- Headquarters: Gurgaon, India
- Website: www.credenc.com
- Total disclosed funding: $2.5M
- Latest round: Seed (Oct 22, 2019)
- Investors on record: 4

## About

Credenc Web Technologies Private Limited offers digital solutions for education loans, primarily targeting students seeking higher education funding both domestically and internationally.Founded in 2017 in Gurgaon, India, Credenc Web Technologies Private Limited focuses on providing education loans. The company has made four deals, with its most recent funding round being a Seed round of USD 2.50 mn led by Omidyar Network on July 19, 2021. The founders include Avinash Kumar, Kristy Tokarczyk, Mayank Batheja, and Shayak Sircar, who possess diverse backgrounds in entrepreneurship and finance.Credenc specializes in providing streamlined digital solutions for education loans aimed at students pursuing higher education. Its core offering includes merit-based loans for various educational needs, such as MBA and engineering programs. The application process is simplified, allowing students to apply online with secure documentation. The company serves a diverse clientele across major cities in India, including Bangalore, Mumbai, New Delhi, and Pune, catering to a broad array of institutions.In 2022, Credenc reported a revenue of USD 328,521.10, with an EBITDA of USD -1,706,089.40. The company generates revenue through a direct-to-consumer model, processing loans quickly within a paperless framework, often targeting unsecured loans up to 50 lacs without collateral to support students' educational aspirations.Credenc aims to leverage its recent funding, which is part of a larger USD 25 mn debt and equity initiative, to expand its loan offerings. The company plans to develop new products and aims for a loan book of Rs 3,000 crore by 2025. The new funding will enable Credenc to enhance its services and expand into additional geographical markets, further supporting students in achieving their educational goals.

## Funding rounds

- Seed, Oct 22, 2019, $2.5M — Better Capital, Omidyar Network, Emphasis Ventures, IIMK Alumni Fund

## Investors

- Better Capital — Seed
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Seed
- Emphasis Ventures (https://capitalatlas.ai/funds/emphasis-ventures) — Seed
- IIMK Alumni Fund — Seed