Kunal Shah’s Cred adds more funding in private placement, equity from 23 investors; takes Series A round to Rs 177 crore
21 April 2019 6:30 PM GMT
The current round is raised from Alibaba-backed Ganesh Ventures, former PayU India CEO Amrish Rau, Truecaller cofounder Alan Mamedi, Swiggy cofounder Sri Harsha Majety, former LinkedIn India head Akshay Kothari, CureFit Mukesh Bansal, True North partner Haresh Chawla etc.
- This brings Cred?s Series A financing round to a little more than Rs 177 crore with overall 28 investors.
- Credit card payment reward app Cred has additional Rs 23.8 crore from 23 investors including venture capital firms, high-net-worth individuals, internet entrepreneurs, family trust, etc., in its ongoing Series A round that began in September last year.
- This brings the total tally in Cred's Series A financing round to a little more than Rs 177 crore with overall 28 investors, in a round in which two firms, Ribbit Capital and Sequoia Capital contributed roughly 60 per cent of the capital, Paper.vc founder Vivek Durai told Financial Express Online.
- Cred, which began its Series A round with $134 crore, raised a further round of over $17.7 crore from Russian VC fund Ru-Net in October last year followed by Rs 7.1 crore raised from Hong Kong-based MVision in November, showed regulatory filing sourced by business signals platform Paper.vc.
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