Cred raises $80 million in Series B funding as valuation almost doubles

Credit card repayment platform Cred has raised $80 million in a round led by existing investor DST Global.

The round also saw the participation of other existing investors Ribbit Capital, Sequoia Capital and Tiger Global, said a person privy of the development.

This is the Kunal Shah-founded startup’s series B round of capital infusion, ascribing a value $800 million to its business.

This marks a significant bump up from the $450 million valuation at which Cred conducted its previous funding exercise of $120 million in August last year. The startup had raised $30 million in its seed round in late 2018.

Submitted December 01, 2020 at 09:40AM by nasirbobby https://ift.tt/3oeBPx8 via TikTokTikk