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Cred raises $80 million in a funding round led by DST Global, valuation now up at $800 million

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Together with DST World, Ribbit Capital, Sequoia Capital, and Tiger World have additionally invested in Cred.

Cred raises $80 million in a funding round led by DST Global, valuation now up at $800 million

CRED emblem

Cred, a compensation platform for bank cards has raised over $80 million in sequence 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 sequence A spherical of $125 million and a sequence 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, when it comes to 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 affords 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 non-public 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 characteristic referred to as Cred RentPay the place customers might pay their hire utilizing their bank cards. One other characteristic introduced was Cred Stash, a straightforward and digital manner of acquiring credit score in India.

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