Cred Raising $100 Mn From Hillhouse Capital, Existing Investors: Report
Cred may increase its valuation 5x reaching $400 Mn as it is now evaluating the term sheets and the due diligence process is underway.
- Kunal Shah's Bengaluru-based credit card bill payment startup Cred is reportedly looking to raise $100 Mn (INR 692 Cr) from China-based venture capital firm Hillhouse Capital and its existing investors which include Sequoia Capital, Ribbit Capital, Apoletto Asia among others.
- Founded by Freecharge founder Kunal Shah, Cred is looking to increase its valuation to $400 Mn with new funding, which is nearly 5x
- The banks associated with Cred include HDFC, ICICI, Kotak, Axis among others.