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Cred raises $81 million from DST Partners, others at $800 million valuation, buys back ESOPs

Existing investors such as Sequoia Capital, Ribbit Capital, Tiger Global, General Catalyst also participated in the round. New investors include hedge fund Coatue Management and Satyan Gajwani, Vice Chairman of Times Internet.

January 04, 2021 / 03:39 PM IST

Credit card repayment app Cred, the second venture of Kunal Shah, said on January 4 that it has raised $81 million in its Series C funding round led by DST Global.

Existing investors such as Sequoia Capital, Ribbit Capital, Tiger Global, General Catalyst also participated in the round. New investors include hedge fund Coatue Management and Satyan Gajwani, Vice Chairman of Times Internet.

The story behind Cred’s $800-million climb within two years

The round values Cred at $806 million post money, as Moneycontrol first reported on October 9.