UditCredR, which is a Mumbai based Incredible Technologies Limited, has now secured an undisclosed amount of funding in debt from Stride Ventures.
CredR is India’s largest and most trusted consumer brand for the 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 an offline platform for trading the same.
The infusion of new funds will be going to be used by the company for financing the purchase of automobiles.
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.”