Get All Access for $5/mo

Bengaluru-based Fintech Startup, Cred, Raises $120 Mn in Series B Round from Sequoia, Ribbit Capital & Others The funds raised will be utilized for expanding to the international markets and strengthen its merchant system

By Bhavya Kaushal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

Bengaluru-based fintech startup raised $120 Mn in Series B round of funding led by the world's most sort after investors--Sequoia Capital, Ribbit Capital and Gemini Investments. Founded by Kunal Shah, who is also the founder of FreeCharge, Cred is now valued at $450 million and is a soon-to-be unicorn. Other investors participating in the round were Russian tech fund RTP Global (earlier Ru-Net), Asia based investment management firm HillHouse, New-York based investment fund Tiger Global, San-Francisco Greenoaks Capital, as well as DF International.

The funds raised will be utilized for expanding to the international markets and strengthen its merchant system.

The Great Grand Experience of the Fintechs

Shah has had a long stint with fintech startups. It started with the launch of PaisaBack which he founded along with his former colleague Sandeep Tandon. Soon he shutdown Paisaback and founded FreeCharge, a coupon-based app for mobile recharge with Tandon again in 2010. FreeCharge was a hit in the market but it couldn't stay for long. It was later acquired by Snapdeal for US$400 million and subsequently taken over by Axis Bank.

The growth of this startup is nothing short of phenomenal. Founded in 2018, it has raised one of the highest funding amounts in Series A and Series B in the history of the Indian startup ecosystem. With its feet slowly moving towards the waters of the unicorn club, it's growth has become an epitome for Indian startups.

Cred is a members-only app that offers you exclusive rewards for paying your credit card bill. The less-than-a-year old brand has partnered with some of the biggest names including BookMyShow, Urban Ladder, Curefit etc.

Bhavya Kaushal

Former Features Writer

I am a work-in-progress writer and human being. An English graduate from Delhi University, writing is my passion and currently, I was Entrepreneur India's start-up reporter. I love covering start-ups and weaving their stories into unforgettable tales with the power of ink! 
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Leadership

Should I Stay or Should I Go? 8 Key Points to Navigate the Founder's Dilemma

Here are eight key signs that help founders determine whether to persevere or let go.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.