Diversified conglomerate Fosun International and venture capital firms Ventureast and Endiya Partners have invested $10m in Kissht, the India-based operator of a consumer credit platform, the Economic Times reported on Monday.
Kissht has developed a platform that enables online and offline retailers to offer payment plans for products. Consumers can use the Kissht app to shop online with its partners and apply for an equated monthly instalment card to purchase products in-store.
The funding will be used to expand the company’s presence in India, strengthen its data science capabilities and increase the size of its engineering and analytics teams.
Kissht had previously raised approximately $3m in funding, with $2m of that coming from Endiya Partners and Ventureast in a June 2017 round according to ET.