CRED is now a part of Unicorn club with a valuation of $2.2 Billion| 6th Unicorn firm this Year (2021)

Fintech Startup CRED has raised $215 million in its Series D round of funding, after the funding it is valued at $2.2 Billion and entered Unicorn CLub. 6th Unicorn firm this year after Digital Insurance, Innovaccer, Infra.Market, Five-star Business Finance and Meesho.

Falcon Edge Capital and existing investor Coatue Management invested $215 million in SERIES D.

Existing Investors of CRED that participated in this round are:

  • DST Global
  • RTP Global
  • Tiger Global
  • Greenoaks Capital
  • Dragoneer Investment Group
  • Sofina
"Kunal Shah" - Founder of CRED
“Kunal Shah” – Founder of CRED

On the latest Development, CRED Founder and CEO Kunal Shah

said, “With the credit card category in India expanding rapidly, we have a massive opportunity to shape responsible behavior, 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…”

CRED had last announced its SERIES C funding of $86 million in Jan 2021 with a valuation of 800 Million Dollars. Now with the latest news CRED reaches more than 2.5 times which is from $800 million in Jan 2020 to around 2.2 Billion Dollars (2200 Million Dollars).

CRED will use the capital collected in this funding round for ESOP buybacks with a cumulative value of $5 million. Similarly, as the Series C funding round took place, CRED buyback the ESOPs worth $1.2 million.

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FAQs

What is Unicorn Club

In business, when a startup reaches the valuation $1 Billion then the startup called a Unicorn startup.

How many Indian startups enters Unicorn Club

At present there are 27 startups valued more than $1 Billion with a combined valuation crosses $79 Billion.

Shubham

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