Existing investors Tiger Global and Falcon Edge Capital co-led the three year-old Bangalore-based startup’s Series E financing round. Marshall Wace and Steadfast also participated, and so did existing investors DST Global, Insight Partners, Coatue, Sofina, RTP, and Dragoneer. The startup was valued at USD 2.2 billion in an April 2021 round and USD 806 million in a round it disclosed in January.
CRED helps and rewards people improve their credit score by encouraging them to pay their credit card bills on time. The startup has amassed 7.5 million members, as India has about 25 million unique credit card users.
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