Indian fintech unicorn CRED finalises acquisition of wealth manager smallcase for $400m

CRED founder Kunal Shah. Photo: Hemant Mishra/Mint

Bengaluru-headquartered fintech unicorn CRED, a members-only credit card management and bill payments platform, is said to have finalised the acquisition of Sequoia Capital-backed wealth management company smallcase for a consideration of about $400 million.

The development comes on the heels of CRED’s $140-million, GIC-led fundraising round in June at a valuation of $6.4 billion. CRED is expected to use part of the proceeds to finance the acquisition.

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