Technology

IndiaBased Cred 81M DST Global: Fintech Start-Up Cred 81m Set to Raise Funds at a Global Level through an IPO

IndiaBased Cred 81M DST Global startup Cred 81m is set to raise funds at a global level through an IPO. This article provides some information about the fund round, value of the company and other details. The article also lists some requirements for a prospective applicant.

Funding Round Details

IndiaBased Cred 81M DST Global, a fintech startup, has raised a new round of funding worth USD 81 million. The Bangalore-based firm is building a financial services platform that allows users to earn rewards for paying their credit card bills on time. It also plans to expand inorganically.

The company has already raised funds in a series A, B and C round. During this period, it has received investments from Sequoia Capital, DST Global, Coatue Management and Insight Partners. This latest funding round brings the total to over $2.4 billion.

Eponymous App

The firm has launched an eponymous app that offers deals from online brands. It is also in talks to launch banking products and a credit card. However, it is still not clear what its business model is.

It has also recently acquired an expense management platform called Happay. Cred Interactive is in the process of getting various licenses from the Reserve Bank of India. And in March, the firm filed for an account aggregator license.

Venture Firm’s Latest Round

The venture firm’s latest round is led by GIC of Singapore. The investment will help the company expand its team and launch a mobile application. Other investors included Ribbit Capital, General Catalyst and Satyan Gajwani.

Meanwhile, VMG Catalyst, a fund for technology-enabled companies, has closed its second fund at a target of $400 million. As part of the deal, VMG will invest in 22 startups that focus on powering consumer businesses.

DST Global Invests in Indian Fintech Startups

IndiaBased Cred 81M DST Global is a growing number of fintech companies on the scene, but one that stands out from the pack is Cred. The company has been in business for nearly a decade, and offers a variety of payment options ranging from mobile banking to short term loans to small businesses. Its latest venture is its new credit card, which should be hitting the shelves in the coming months.

Official Figures

While the company has not released official figures, the latest numbers indicate that it has amassed roughly $2.45 billion in equity funding, the bulk of which comes from Chinese investors. The company has also raised over a dozen venture capital rounds.

Among other notable investors, the company has also tapped the services of marquee names such as Tiger Global and Sequoia Capital. Founded in 2010, the company has since expanded into several other markets, including Mexico and the Philippines, and has become a key player in the fintech game. In the past few years, it has also invested in a slew of startups. As of this writing, the company has more than 400 employees, and boasts over 20 locations nationwide, including the aforementioned San Francisco office.

The India Based Cred Earns 81 Million Dollars From DST Global

The India based bill payment platform has garnered a whopping 81 million dollars from DST Global. Despite the hefty sum, the company has a long way to go before it earns a second wind. Among other things, the company is in the business of giving customers a taste of its magic via a plethora of digital and mobile banking products.

One of the more intriguing offerings in the company’s portfolio is a credit card, which is being rolled out to a select group of merchants and banks in the near future. As for the card itself, the company isn’t quite as forthcoming when it comes to the specifics. For those who prefer to keep their cards close to their hearts, a mobile app is also on the menu. Of course, the name of the game is to be the customer, which the company is well positioned to handle. In an effort to keep pace with the competition, the company is deploying a top-notch marketing and customer service team.

In a nutshell, the company is looking to help small businesses take their first steps into the big wide world and beyond. Besides the aforementioned, Cred also offers short-term loans to entrepreneurs and small business owners.

Last Words:

DST Global was first to market in the Indian fintech space, and the company has been an investor in some of the country’s most promising startups. Some of its more high-profile investments include Swiggy, Ola, and Cars24

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