Bangalore-based FinTech startup CRED has raised $ 251 million in a new funding round led by existing investors Tiger Global and Falcon Edge Capital.
TechCrunch Report that the new cash will raise the company’s valuation to over $ 4 billion.
Series E included Marshall Wace and Steadfast, as well as DST Global, Insight Partners, Coatue and Dragoneer.
CRED aims to help people improve their credit scores by encouraging members to pay their credit card invoices on time. Members who pay invoices on time will be rewarded for access to premium brands on the platform. It currently boasts 7.5 million users.
Founded by Kunal Shah in 2017, the company’s app also offers a variety of financial management features, including the ability to track various credit card spending.
TechCrunch CRED reports that it has not disclosed where the new cash will be spent.
Earlier this month, the company $ 90 million Series A round For the capital access platform Cred Avenue, Shah also participated $ 50 million investment round For Amazon-backed purchases now, you’ll pay the company’s Capital Float later.
Indian fintech startup CRED secures $ 251 million in Series E funding
Source link Indian fintech startup CRED secures $ 251 million in Series E funding