CRED Raises $120 Mn Series B Funding
CRED is a Bengaluru headquartered startup. It is a credit card bill payment app which raised $120 Mn funding from the new and as well as the existing investors. The funding is the Bridge series B funds which will be used for the company’s expansion and growth, marketing and general corporate activities. credit card bill payment app
The CRED is founded by Kunal Shah in 2018. It has made partnerships with brands such as Airbnb, Cure.fit, BookMyShow, Urban Ladder, FreshMenu, and ixigo, etc. The company is associated with banks like HDFC, ICICI, Kotak, Axis, etc.
CRED is a members-only club that rewards people for paying credit cards bills on time by providing them with the exclusive offers and premium experiences access.
The company passed the resolution on August 16 to allot 5,34,668 series B shares to its investors for INR 730.02 Cr.
The company’s major investors in seed and Series A round is QED innovation labs, Sequoia India and Ribbit Capital.
The investors include Sequoia India, Tiger Global, Gemini Investments, Anxa Holding, DF International Group, Greenoaks Capital Opportunities, HH DTPL Holdings II Limited, Sequoia India and RTP Global Investments.
Coming to the company’s brand they are branding with the domain name cred.club only, hope they can acquire .IN & .CO.IN domain names as well.