Cred raises $80 million in a funding spherical led by DST World, valuation now up at $800 million
Together with DST World, Ribbit Capital, Sequoia Capital, and Tiger World have additionally invested in Cred.
Cred, a compensation platform for bank cards has raised over $80 million in collection B funding. The funding was led by DST World. DST World had invested in Cred within the earlier monetary 12 months as properly. Together with DST World, Ribbit Capital, Sequoia Capital, and Tiger World have additionally invested in Cred. Cred had raised funds twice in 2019 alone. A collection A spherical of $125 million and a collection B funding of $120 million from Sequoia Capital, Ribbit Capital, and others. This 2 12 months previous startup has gone from $450 million to $800 million, by way of valuation. Across the similar time final 12 months, Cred had raised $30 million in its seed spherical.
Launched in 2018, Cred is an app that helps customers pay and handle their bank card. It provides rewards and incentives linked to the bank card fee. It’s for individuals who have a minimal credit score rating of 750 or above.
CEO of Cred, Kunal Shah was additionally the co-founder of Freecharge which is presently owned by personal lender Axis Financial institution.
Cred not too long ago introduced an official partnership with the Indian Premier League (IPL). Within the early levels of the pandemic, Cred introduced a brand new function referred to as Cred RentPay the place customers may pay their lease utilizing their bank cards. One other function introduced was Cred Stash, a simple and digital method of acquiring credit score in India.
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