Kunal Shah’s CRED raises $80 million — valuation doubles to $800 million for the just two-year old startup
- CRED, an app that helps you pay and manage your credit card bills, has raised $80 million.
- The round was led by partners of DST Global and also saw participation from existing investors Sequoia Capital and Ribbit Capital.
- With the Series C round of funding, the Kunal Shah-led startup’s value has almost doubled to $800 million – from its valuation of $450 million a year ago.
Recently, the startup had signed up as the official partner of the Indian Premier League.
Earlier this year as the coronavirus pandemic began. CRED had launched new features like CRED RentPay, which allows members to pay monthly rent with their credit cards and CRED Stash, which claimed to be “designed to be the fastest, most seamless and fully digital way to get credit in India.”
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