CRED Joins Unicorn Club With $2.2 Bn Valuation, Post $215Mn Fundraising

CRED, a fintech startup has raised $215 million as a part of its Series D funding round. The Series D funding round was led by the company’s existing and new investors Coatue Management LLP and Falcon Edge Capital respectively. Alongside, Insight Partners has joined CRED cap table.

Alongside, the fintech startup’s existing investors namely DST Global, Greenoaks Capital, RTP Global, Dragoneer Investment Group, Tiger Global, and Sofina have also participated in this round of funding. With this funding raised, CRED’s post-money valuation reached $2.2 billion. Thus, CRED would also offer its team another ESOP buyback opportunity, with a cumulative value of about $5 million.

Kunal Shah, Founder, CRED says, “With the credit card category in India expanding rapidly, we have a massive opportunity to shape responsible behaviour, imagine new use cases, and create a rewarding platform for members. Our growth in the past year has demonstrated the potential value of the high-trust, low-friction platform the CRED team has been building, and we are delighted to share the value created with investors, team members, as well as partners and the CRED community.”

In January 2021, the fintech startup had raised $81 million fund in a funding round led by its new investor Falcon Edge Capital as well as existing investor Coatue Management LLP.