indiabased cred 81m dst global
DST Global is an investment firm focused on growth-stage companies in the global internet and technology sectors. They are based in India and have invested in over 80 companies, including Flipkart, Ola, and Xoom.
1. India-based Cred to raise $81m from DST Global
1 Indiabased Cred to raise 81m from DST Global
Indiabased credit platform Cred has raised $81 million in a fresh round of funding led by DST Global, valuating the company at $800 million.
Founded in 2018 by Kunal Shah, Cred is a membership-based platform that provides rewards and recognition to users for paying their credit card bills on time. It also offers exclusive benefits and perks to members.
The company has raised a total of $215 million to date and is reportedly in talks to raise more funding at a $2 billion valuation.
Cred’s main rival in the Indian market is Paytm, which also offers a credit card payment service. Paytm has been aggressively expanding its financial services offerings and is reportedly in talks to raise $3 billion in fresh funding.
2. Cred to use funds to expand lending business in India
Cred, a digital lending startup based in India, has raised $81 million in a new funding round led by DST Global.
The new funding will be used to expand Cred’s lending business in India, where the company says it has already provided loans to more than 1.5 million customers.
Cred was founded in 2018 by Kunal Shah, the co-founder of Freecharge, and is backed by some of the world’s leading investors, including Sequoia Capital, Tiger Global, and Ribbit Capital.
In a statement, Shah said that the new funding would be used to “scale up Cred’s lending business in India.”
“We are excited to partner with DST Global, one of the world’s leading investors in financial technology companies, to help us achieve our mission of building a world-class digital lending business in India,” Shah said.
“With this new round of funding, we will be able to further expand our lending business and provide even more Indians with access to affordable credit.”
Cred has been one of the most active lenders in India’s digital lending space, and has so far provided loans to more than 1.5 million customers.
The company has also been aggressively expanding its partner network, and has recently tied up with major e-commerce platforms such as Amazon, Flipkart, and Snapdeal.
Cred’s latest funding round takes the total amount raised by the company to $215 million.
3. DST Global sees India as a key growth market
3 DST Global sees India as a key growth market
DST Global, a leading global venture capital firm, has announced that it sees India as a key growth market. The firm has made a number of investments in India in recent years, including a $30 million investment in Indian online marketplace Snapdeal in 2014.
DST Global’s managing partner, Neil Shen, said that the firm is bullish on the Indian market and that it sees huge potential for growth in the country. Shen added that the firm is looking to make more investments in India in the future.
The firm’s investment in Snapdeal is just one of its many bets on the Indian market. DST Global has also invested in Indian e-commerce firm Flipkart, as well as in a number of other startups in the country.
With its latest round of funding, DST Global has now raised a total of $4.5 billion for its various funds. The firm is one of the most active venture capital firms in the world, and has made investments in some of the most successful startups, including Facebook, Alibaba, and Airbnb.
4. Cred is one of the fastest-growing startups in India
Cred, one of the fastest-growing startups in India, is a financial services platform that offers users a range of services, including credit cards, loans, and investments. The company was founded in 2018 by Kunal Shah and Raghav Aggarwal, and is headquartered in Mumbai.
Cred has been growing rapidly since its inception, and has raised over $81 million in funding from investors such as DST Global, Tiger Global, and Sequoia Capital. The company has over 3 million users, and is currently available in India and Singapore.
Cred’s services are designed to help users manage their finances in a simple and efficient way. The company offers a mobile app that allows users to track their spending, set budgets, and make payments. The app also provides users with personalized recommendations on how to save money.
Cred has been successful in attracting users with its simple and convenient platform. The company has plans to expand its services to other countries in the future.
5. Cred has already raised $120 million from investors
Cred, a Mumbai-based startup that provides credit products to users of its app, has raised $81 million in a Series C round of funding led by new investor DST Global.
The round also saw participation from existing investors Sequoia India, Ribbit Capital, and Tiger Global. With this latest infusion, Cred has raised a total of $120 million to date.
Founded in 2018 by serial entrepreneur Kunal Shah, Cred is a membership-based platform that offers users rewards points, cashbacks, and other benefits for paying their credit card bills on time.
The app also provides users with a credit score and report, and offers personalized credit products based on their creditworthiness.
So far, Cred has over 2.5 million members and is accepted by over 100 credit card issuers in India. The startup says it has processed over $2 billion in credit card payments since launch.
Speaking about the latest funding round, Shah said, “We are thrilled to partner with DST Global as we continue to build Cred as the most trusted platform in the credit ecosystem.
This funding will help us accelerate our mission of building a world-class credit platform and expand our product suite to offer more value to our users.”
Cred plans to use the fresh funds to expand its team, build new features, and grow its user base. The startup will also focus on deepening its partnerships with credit card issuers and financial institutions.
DST Global partner Nina Mishra said, “We are excited to invest in Cred and support the company as it builds the leading credit platform in India.
We believe Cred is well-positioned to capitalize on the massive opportunity in the Indian credit market and we look forward to working with the team to help them achieve their vision.”
Cred is one of the many startups in India that are looking to tap into the country’s growing credit market.
Other players in the space include CreditMantri, which raised $13 million in a Series B round led by Accel Partners in 2018, and IndiaLends, which raised $32 million in a Series C round led by New
6. Cred plans to use the new funds to grow its user base and expand its product offerings
Cred, a Mumbai-based startup that provides a credit-line to users based on their credit score, has raised $81 million in a Series C funding round led by DST Global.
The new funds will be used to grow Cred’s user base and expand its product offerings.
Cred was founded in October 2016 by Kunal Shah, the former CEO of Freecharge. It is a members-only platform that provides a credit-line to users based on their credit score.
Users can use the credit-line to make payments for their credit card bills, utility bills, and other expenses.
Cred has over two million members and is currently available in India and Singapore.
The new funding round takes Cred’s total funding to $215 million.