FinTech news in Kunal Shah category

Cred flash, the Bengaluru-headquartered startup’s foray into buy now and pay later category

CRED partnered with LiquiLoans last year to launch CRED Mint, a service that allows CRED customers to lend to one another at an interest rate of up to 9% annually. CRED, backed by Tiger Global, Sequoia India, Alpha Wave Ventures and Dragoneer and valued at $6.4 billion, also engaged with Amazon-backed Smallcase earlier this year, initially to explore an investment and later for a majority acquisition, journalist reported earlier. CRED plans to invest about $10 million in its lending partner LiquiLoans as the Indian fintech startup broadens its ownership in financial services, journalist has learned and confirmed. The Bengaluru-headquartered startup investment in Mumbai-headquartered LiquiLoans increases the lender’s valuation to close to $200 million, the firms said in a statement.

CRED is raising $140 million in a new financing round, its fourth funding in the past year and a half, as the Indian fintech startup courts millions of high credit score customers and broadens its offerings.

Indian fintech CRED is in talks to back the Bengaluru-headquartered startup Smallcase, three sources familiar with the matter said, as the Tiger Global and Alpha Wave Global-backed firm looks to expand its wealth offerings to customers.