Fintech startup CRED has raised $215 million as part of its Series D funding round. Falcon Edge Capital (new investor) and Coatue Management LLP (existing investor) have led this round, while Insight Partners has joined CRED cap table.
Existing investors DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, and Sofina have also participated in this round. With this raise CRED’s post-money valuation touched $2.2 billion. CRED will also offer its team another ESOP buyback opportunity, with a cumulative value of $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 this year, CRED had raised $81 million led by new investor Falcon Edge Capital and existing investor Coatue Management LLP.
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