5Y News | Indian Fintech CRED Closes Series F at $6.4 Billion Valuation
Focused on innovation in financial technology.
Indian fintech company CRED recently announced the completion of its $140 million Series F funding round, led by GIC with participation from Tiger Global, Sofina, Falcon Edge, and Dragoneer. Following this round, CRED's post-money valuation reached approximately $6.4 billion, placing it among the ten highest-valued startups in India's venture capital ecosystem.
5Y Capital participated in CRED's Series A (first round) financing when the company was founded in 2018.
Founded by Kunal Shah in 2018, CRED began as a credit card management and payment platform that rewarded members for paying their credit card bills on time. Through its exceptionally well-designed product and a series of viral marketing campaigns, CRED quickly acquired a large base of India's most valuable customers and continued to expand its user base over the years.
Building on this substantial and highly engaged user base, CRED has successively launched various innovative payment, financial services, and e-commerce businesses, and is actively expanding its footprint through a series of investments and acquisitions.
This funding round will be used to broaden the company's range of business offerings and support its future growth.
5Y Capital seeks out, supports, and inspires lone entrepreneurs, providing everything from moral support to operational backing. We believe that if the world starts believing in you — when others see only madness — the world will become a different place.
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