FinTech Company Cred Enters Unicorn Club at $2.2 Billion Valuation
DST Global, Greenoaks Capital, RTP Global, Dragoneer Investment Group, Tiger Global, and Sofina, as well as the fintech startup's current investors, participated in this round of funding. CRED's post-money value rose to $2.2 billion as a result of this funding. As a result, CRED will give its workers another ESOP buyback opportunity worth around $5 million.
“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.” says, Kunal Shah, Founder, CRED.
The fintech startup raised $81 million in a funding round led by new investor Falcon Edge Capital and existing investor Coatue Management LLP in January 2021.