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.
