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.
AdvertisementCRED, an app that helps you pay and manage your credit card bills in exchange for a bunch of rewards, 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. This brings the just two-year old startup closer to being a unicorn (with a valuation of over a billion dollars). It raised funds twice in 2019 alone – $125 million series A round and $120 million series B funding from Sequoia, Ribbit Capital, and more.
Recently, the startup had signed up as the official partner of the Indian Premier League.
Launched in November 2018, the credit card payments startup has been in the news for its fast grown popularity among users.
CRED is 2 years old now. As a founder it’s a privilege to build a missionary company with immense support from the… https://t.co/lDTGpKEInX— Kunal Shah (@kunalb11) 1606368473000
Earlier this year as the coronavirus pandemic began.
Paytm Money levels up against Zerodha — launches a new feature that allows retail investors to apply for IPOs
Nykaa raises another round of investment from Boston’s Fidelity through a secondary transaction
Popular on BI
- How to use the realistic crying face filter on Snapchat
- Elon Musk praised Netflix for telling employees to quit if they couldn't work on content they disagreed with. He previously bashed the platform as having a 'woke mind virus.'
- The Terra LUNA crypto crash has sparked the debate on ‘true’ decentralisation
- WhatsApp update: Users will soon be able to exit groups silently
- India's wholesale inflation rises further to 15.08% in April from 14.55% a month ago
- China has released its list of top five sources of online fraud in 2022
- There is a strong case to go long on LIC say analysts and macroeconomic indicators
- Elon Musk says Twitter deal cannot move forward until Parag Agrawal proves less than 5% spam account claim