CRED Raised $80 mn In Series C Funding, Valuation Doubles To $800 mn

CRED, an app that helps you pay and manage your credit card bills in exchange for a bunch of rewards, has raised $80 mn. The round was led by DST Global where existing investors Sequoia Capital and Ribbit Capital, also participated.

The new financing Series C round for CRED gave the startup founded by Kunal Shah a post-money valuation of about $800 mn, from its valuation of $450 million a year ago. Coming closer to being a unicorn, has added over 10 lakh users on the mobile application.

"CRED is 2 years old now. As a founder it’s a privilege to build a missionary company with immense support from the whole ecosystem. I am eternally grateful to everyone who’s helped us become better everyday. We are far from perfect, but heading in the right direction." said Kunal Shah, Founder & CEO, CRED.

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