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Existing investors DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, and Sofina also participated in the new round, while Insight Partner is the new entrant to Cred s cap table. I m very happy to share that three months after our Series C, continued interest from leading institutional investors has resulted in us closing a Series D, Shah said in the note, reviewed by ET. While valuation is a milestone that many celebrate, we view it as a responsibility and an opportunity to create member value, added Shah, who founded Cred in 2018.
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Existing investors Coatue, DST Global, Ribbit Capital, Tiger Global and Sequoia Capital are also expected to take part in this deal. TechCrunch
was the first to report the funding news.
The latest round will more than double the company’s valuation in less than four months amid increased demand among investors for a piece of India’s growth-stage fintech startups.
An email sent to Falcon Edge didn’t elicit a response while Cred didn’t comment on ET’s query.
The startup, founded in late 2018, had raised its Series A round in August 2019 at a valuation of $450 million. Its seed round of $30 million was one of the largest seen in India’s startup ecosystem.