Looking for the latest and most exciting news in the world of fintech? Look no further than India-based company CRED, which has just secured a whopping $81 million through its series C funding round led by DST Global. This major investment is set to take CRED’s innovative and game-changing financial services to new heights, making it one of the most promising fintech companies on the market today. So if you want to stay ahead of the curve when it comes to all things finance, read on and discover why CRED is quickly becoming a household name in this booming industry!
What is fintech?
Fintech, or financial technology, is a rapidly growing industry that refers to the use of technology to provide financial services. In other words, fintech companies are using innovative technologies to offer new and better ways to manage money.
Fintech covers a wide range of services, from mobile payments and online banking to investment management and insurance. And with the rapid growth of mobile and digital technologies, fintech is only going to become more popular.
There are many reasons why people are turning to fintech companies for their financial needs. Fintech companies are often able to offer more convenient, user-friendly, and affordable services than traditional financial institutions. For example, mobile payments make it easier and faster to pay for goods and services without having to carry cash or use a credit card. Online banking can save time and money by eliminating the need to visit a bank branch in person. And investment management apps can help people invest their money more effectively.
India-based fintech company CRED has secured $215 million in a Series C funding round led by DST Global. This brings CRED’s total funding to $513 million and values the company at $2.2 billion.
CRED was founded in 2018 by Kunal Shah, former co-founder of Freecharge (acquired by Snapdeal in 2015), and Mayank Batra, former head of engineering at Flipkart. CRED is a membership platform that aims to
What is CRED?
CRED is a India-based fintech startup that provides a credit card management platform. The company has raised $215 million in a Series C funding round led by DST Global, with participation from other investors including Sequoia Capital, Ribbit Capital, and Tiger Global Management.
Founded in 2018, CRED is on a mission to make credit more rewarding. The startup offers a mobile app that helps users manage their credit cards and rewards points. It also provides features such as notifications for upcoming due dates and payments, as well as insights on spending patterns.
With the new funding, CRED plans to expand its team and continue building out its product. The company says it will also use the funds to grow its user base and merchant partnerships.
India-based fintech CRED secures $81 million through series C funding round led by DST Global
CRED, a India-based fintech company, has secured $81 million through a series C funding round led by DST Global. With this latest infusion of capital, CRED has now raised a total of $215 million.
The new funds will be used to further fuel CRED’s growth in India and expand its product offerings. The company plans to launch new financial products and services that will help it tap into new markets and segments. Additionally, the funds will be used to build out CRED’s technology platform and strengthen its data analytics capabilities.
This latest round of funding comes on the heels of strong growth for CRED. In the last year, the company has more than doubled its customer base and tripled its transaction volume. CRED is now processing over $5 billion in annualized transaction value and has over 2 million users on its platform.
With its deep pockets and extensive network, DST Global is well-positioned to help CRED scale even further in the years ahead. This latest investment is a vote of confidence in CRED’s business model and prospects for continued growth in India’s burgeoning fintech sector.
What this means for the future of fintech
This latest funding round for CRED, a India-based fintech startup, is led by DST Global and values the company at $1.3 billion. CRED was founded in 2018 by Kunal Shah, an early investor in Freecharge (acquired by Snapdeal in 2015) and co-founder of Credii (acquired by Quikr in 2014). The company allows users to manage their credit cards and other financial products in one place. It also offers rewards and cash back on credit card bill payments.
CRED’s Series C funding round was oversubscribed, with strong interest from both new and existing investors. This latest investment will be used to further grow the company’s customer base and expand its product offerings. With this additional capital, CRED is well positioned to continue its rapid growth in the Indian fintech market.
This latest funding round for CRED highlights the growing interest from global investors in the Indian fintech sector. The sector has seen strong growth in recent years, driven by factors such as the large size of the potential market and the increasing use of mobile devices and digital banking services. Fintech startups have raised over $4 billion from investors since 2014, with CRED being one of the largest recipients of funding.
The Indian fintech sector is expected to continue to grow at a rapid pace in the coming years. This will provide opportunities for startups like CRED to scale up their operations and tap.
Conclusion
India-based fintech CRED has secured a significant Series C funding round led by DST Global, worth $81 million. This is an impressive feat and testament to the success of the company in less than two years since its launch. With this new influx of funds, CRED looks set to expand its operations even further in order to capitalize on the ever-growing demand for digital payments solutions across India and beyond. The future certainly looks bright for CRED as they continue their mission to revolutionize financial transactions within India’s booming digital economy.
