Meet the newest unicorn of India CRED
CRED is the sixth startup to turn unicorn this year after insurtech startup Digit Insurance, SaaS startup InnovAccer, and NBFC Five Star Finance, social commerce platform Meesho, and B2B commerce company Infra.Market.
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Yet another Indian startup enters the unicorn club.
The latest entrant to the coveted $1 billion valuation club is Bengaluru-headquartered fintech startup CRED. Following the closure of its Series D funding round at $215 million, CRED s valuation almost tripled from $800 million to $2.2 billion.
The round was led by a new investor Falcon Edge Capital along with existing investor Coatue Management.
Northern Arc exits from first impact credit fund and delivers 15 pc return to investors
Northern Arc Investments has faced significant headwinds from demonetisation, GST rollout, the NBFC crisis, and the COVID-19-induced national lockdown.
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Northern Arc Investments, the private debt fund and subsidiary of Northern Arc Capital with a focus on lending to microfinance institutions, have announced the successful maturity and exit of its first fund –
IFMR FImpact Investment Fund.
On the exit, Ravi Vukkadala, CEO – Northern Arc Investments, said, “This is a very significant and satisfying milestone for us. This is our second consecutive timely exit from our investment platform in the last two years, reinforcing our track record as an experienced private credit fund manager from India.”
Northern Arc Investments exits maiden fund with 15% net returns thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.