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. 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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