Cred makes the unicorn club in Series D round led by Falcon Edge, Coatue
Summary
Credit card payment platform Cred has entered the unicorn club by raising $215 million (Rs 1,578 crore) in its Series D round led by new investor Falcon Edge Capital and existing backer Coatue Management. “With the credit card category in India expanding rapidly, we have a massive opportunity to shape responsible behaviour, imagine new use cases, and create a rewarding platform for members,” said Kunal Shah, founder of Cred. In October last year, Razorpay raised $100 million in a round that catapulted the online payment gateway provider to the famed unicorn group of startups with a valuation of at least $1 billion. The same month, Uni, a fintech startup in stealth mode co-founded by former PayU India CEO Nitin Gupta, raised $18.5 million in its seed round. In May, SME-focused Khatabook mobilised $60 million in its Series B round led by Facebook co-founder Eduardo Saverins B Capital.