/start ups

News and resources on fintech start-ups, scale-ups, hubs, accelerators, VCs and funding worldwide.
Cred doubles valuation to $4 billion

Cred doubles valuation to $4 billion

Indian credit card bill payment app Cred has raised $251 million in a Series E funding round, almost doubling its valuation to $4 billion in six months.

Existing investors Tiger Global and Falcon Edge Capital co-led the latest round with participation from Marshall Wace and Steadfast alongside DST Global, Insight Partners, Coatue, Sofina, RTP and Dragoneer.

Three-year old Cred was valued at $2.2 billion in an April round this year and $806 million in a round it disclosed in January.

The company helps users build their credit score by paying their card bills on time, offering special discouints and loyalty rewards as an inducement. The members-only club has so far attracted 7.5 million subscribers.

The startup says it will use the funding to broaden its financial services offering.

Comments: (0)


Related News