CredAvenue, an online loan marketplace, has raised $137 million in its Series B fundraising round, making it the ninth unicorn of 2022. The start-up declared that its valuation has risen to $1.3 billion, more than tripling in just six months.

The funds will be used to expand the company’s business organically and inorganically in India and other key worldwide markets by purchasing diversified companies for forward and backward services and product integration.

Gaurav Kumar, Founder, and CEO of CredAvenue informed that they have a once-in-a-lifetime opportunity to change the global debt and collections market through a combination of the marketplace, operating system, and fulfilment.