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Cred valuation nearly doubles after $250-million funding Mumbai: Fintech startup Cred has raised $251 million in a Series E round co-led by Tiger Global Management and Falcon Edge Capital at a valuation of $4.01 billion, the company said in a statement to ET. The round nearly doubles the Bengaluru-based startup’s valuation from $2.2 billion in
The latest deal would allow CRED to offer investment product like direct mutual funds, FDs, SIPs, and digital gold to its user base besides financial planning tools. The company has also been looking to expand its new insurance product under fintech arm DASPL.
Three people in the know told ET that while the banking regulator has not spelt out any statement on the fledgling sector explicitly, back channel conversations between companies and the regulator have made many startups course correct.
While theoretical risks of borrower defaults exist, P2P lending platforms have taken measures to mitigate such risks.
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