Cred raises $215 million as valuation rises to $2.2 billion
Fintech startup Cred has raised $215 million in Falcon Edge led Series D financing round. Founded by Kunal Shah in 2018, the Bengaluru-based startup has entered India’s unicorn league with valuation of $2.2 billion. The round also saw participation from existing investors RTP Global, DST Global, Tiger Global, Dragoneer Investment Group, Greenoaks Capital and Sofina along with new investor Insight Partner. Shah added, “We’ve grown rapidly over the past two-and-a-half years, with 35% of premium credit card holders and processing 22% of all credit card payments in India on a monthly basis.”CRED is a members only credit card bill payment platform that rewards its members for clearing their credit card bills on time. CRED members get access to exclusive rewards and experiences from premier brands upon clearing their credit card bills on CRED.