India: CRED joins unicorn club with $215m funding at $2.2b valuation

India: CRED joins unicorn club with $215m funding at $2.2b valuation

CRED founder Kunal Shah. Photo: Hemant Mishra/Mint

Serial entrepreneur Kunal Shah’s fintech startup,CRED, on Tuesday said it has closed $215 million as part of its Series D funding round, at a post-money valuation of $2.2 billion, making it the latest entrant to India’s unicorn league.

The latest round of funding which was led by new investor Falcon Edge Capital and existing investor Coatue Management LLP, comes after the startup raised $81 million, as a part of its Series C round, which ascribed it a valuation of $806 million, in January, this year.

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