CRED, a fintech unicorn founded by Kunal Shah, has raised $251 million in a Series E round of funding at a valuation of $4.01 billion.
The round, which was co-led by existing backers Tiger Global and Falcon Edge, saw new investors— Marshall Wace and Steadfast— bet on the startup. Other existing investors such as DST Global, Insight Partners, Coatue, Sofina, RTP, and Dragoneer also increased their investments in CRED, according to sources.
The latest funding round almost doubles CRED's valuation. The startup turned into a unicorn in April this year at a $2.2 billion valuation with an infusion of $215 million from Falcon Edge and Coatue Management.
