Cred’s valuation soars to $2.2 bn after raising $215 mn

Credit card repayment platform Cred has concluded its Series D funding, raising $215 mn in a round co-led by new investor Falcon Edge and existing investor Coatue Management, founder and CEO Kunal Shah said in a note to employees.

The new round gives the fintech firm a post-money valuation of $2.2 bn. It was valued at $800 mn just three months ago, when it raised its Series C round. It also underscores the demand among investors for a piece of India’s growth-stage fintech startups.

Existing investors DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, and Sofina also participated in the new round, while Insight Partner is the new entrant to Cred's cap table.

"I'm very happy to share that three months after our Series C, continued interest from leading institutional investors has resulted in us closing a Series D. While valuation is a milestone that many celebrate, we view it as a responsibility and an opportunity to create member value," Shah said in the note.

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