CRED continues strong year of funding with $251m Series E

Indian credit card bill payment app Cred has netted $251m from a Series E funding round led by Tiger Global and Falcon Edge Capital.

The round also saw participation from Marshall Wace, Steadfast, DST Global, Insight Partners, Dragoneer, Sofina, RTP and Coatue.

CRED has recorded a robust year in terms of funding and has seen its valuation climb hugely over 2021. Following a funding round in January, the company was worth $806m. Then in April, a Series D round saw CRED raise $215m, and its value climbed to $2.2bn. Now, the company is worth $4bn.

CRED aims to help its users pay credit card bills easily and earn rewards. The firm has expanded to lending through CRED Cash and enabled online commerce and brand discovery through its Store and Discover platform.

According to CRED, it intends to use the newly raised funding to continue to broaden its financial services offering.

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