OkCredit brand owner Psi Phi Global Solutions Pvt. Ltd., which is funded by Tiger Global, is up for sale after failing to get new funding.
According to reports, the fresh round of funding for OkCredit was expected to total $40 million. InCred, a financial services company, has been recruited by a startup that offers digital ledger and bookkeeping solutions to locate a buyer. The IT company Kirana, which collected $83 million from investors across three fundraising rounds, is now valued at $40 to $50 million, the report claims. One of the insiders said that “the sale talks follow the company’s unsuccessful fundraising attempt.”