Funding · Financial Services

Credilio raises ₹100 Cr Series A funding

By Startup Enthusiast · 28 April 2026

What they do

Credilio is a credit marketplace that helps DSAs and advisors sell credit products from 35+ banks and NBFCs

It raised ₹100 Cr ($10.5 Mn) in Series A funding led by Cornerstone Ventures, with venture debt from Innoven and Alteria

The company also runs novio, a UPI-first FD-backed credit card app, and plans to scale its customer acquisition funnel

Credilio raised ₹100 Cr ($10.5 Mn) in a Series A funding round.
The round was led by existing investor Cornerstone Ventures.
Other participants included Shepherd Hill, Roots Ventures, and ESV-Arthya AIF.
Venture debt came from Innoven Capital and Alteria Capital.
The pre-money valuation was ₹300 Cr ($31.7 Mn).
The company plans to use the funds to scale its customer acquisition funnel and build new channels.
It also aims to invest in brand building and target Tier II to V cities with limited credit card penetration.

Credilio's main business is a credit marketplace for DSAs and financial advisors, but it also runs novio, a UPI-first FD-backed credit card app.
novio targets applicants rejected for unsecured credit due to lack of credit history or formal employment.
The company's FY26 unaudited revenue was ₹100 Cr (21% growth) with a flat loss of ~₹18 Cr.
Growth has slowed due to a sluggish B2B credit card distribution market, but novio scaling is expected to drive FY27 revenue to ₹150 Cr.

Credilio operates a credit marketplace for DSAs (direct selling agents) and financial advisors to sell credit products from 35+ banks and NBFCs.
It also runs novio, a UPI-first FD-backed credit card app launched in 2024 as a separate platform.
novio partners with DCB Bank and SBM for FD-backed credit cards linked to UPI.
novio cards offer rewards and cashbacks with partners like Swiggy, BookMyShow, Flipkart, and Myntra.
Only users with an FD greater than ₹10,000 get a physical card.
novio holds a TPAP licence for UPI payments via secured credit cards.
The company's main expense is customer acquisition cost.
novio generates revenue from transaction fees and revolving income from defaults/fees.

Scale the customer acquisition funnel and build new channels.
Invest in brand building to tap larger customer cohorts.
Target Tier II to V cities with limited credit card penetration.
Target 'credit invisible' consumers: early jobbers, junior employees, shopkeepers, gig workers, students, freelancers.
Plan to launch an unsecured credit card with YES Bank for users with repayment discipline.
May consider hybrid products: secured cards with credit lines above the FD amount.
In talks with multiple public and private sector banks for co-branded secured and unsecured cards.
Launching EMI options on credit cards next month.
May monetise AI-powered credit advisory business (currently free for existing customers).