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Indian startup CRED raises USD 140 mln to reach 6.4 bln valuation

Monday 13 June 2022 11:19 CET | News

India-based startup CRED has raised USD 140 million in a new financing round, as the fintech tries to expand their customer base and broadens its offerings.

GIC, Singapore’s sovereign wealth fund, is leading the startup’s Series F financing round, which includes secondary transactions, Existing backers Tiger Global, Sofina Ventures, Alpha Wave Ventures and Dragoneer also participated in the funding, which values CRED at USD 6.4 billion, up from USD 2.2 billion in April 2022.

The investment comes at a time when CRED is finalizing the acquisition of Smallcase, an Amazon-backed startup. The acquisition of Smallcase, which operates a platform to help a new generation of investors participate in the Indian equity markets, should allow CRED to upgrade its offerings to customers.

The startup helps and incentivizes individuals to improve their credit score by encouraging them to pay their credit card bills on time.

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Keywords: funding, credit scoring, personal finance management, startup, fintech
Categories: Banking & Fintech
Companies: CRED
Countries: India
This article is part of category

Banking & Fintech

CRED

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