Mumbai: my guess has raised $251 million in a co-led Series E funding round Tiger Global And falcon edge At a valuation of $4.01 billion, it underscores the continued interest it is receiving from Indian fintech investors.

Fundraising nearly doubled valuation of Bengaluru-based startup from $2.2 billion in April
When the company raised $215 million. Its value was $800 million less than a year ago,
When It Raised $80 Million in November 2020. Two new investors — Marshall Weiss and Steadfast Venture Capital — joined the serial entrepreneur’s cap table in this round. Kunal ShahFintech Startup. Existing investors DST Global, Insight Partners, Coatue and Sofina also participated in the fundraising.

According to media reports, the company plans to use the funds to develop its existing range of products and expand its financial services offering to customers.

miscellaneous offerings

Kunal Shah
launched credit after three years
he sold Freecharge of $400 million to Snapdeal in 2015. Later Axis Bank
snapped up Fintech Startups at 90% Discount. And what started as a credit card repayment platform is now a diversified business that includes e-commerce, digital payments, wealth management, bank loans and peer-to-peer lending.

• The ecommerce platform, called Cred Store, charges partner businesses a fee to direct their user base to their products. It also deducts charges from its bank partners to improve the financial discipline of the customers.
• The loan business started in 2020 in association with IDFC First Bank had a loan book of Rs 2,000 crore as of August this year. This non-performing asset ratio, as a percentage of the loan book, stood at less than 1%.
• earlier this year, CRED Launches Cred Mint Its P2P lending platform in partnership with P2P non-bank liquidity. Those investing in the product get an interest of around 9%, while the loan will be disbursed at 12%-13%.

In an interview to ET in August, Shah had said, “Around 25-30% of all credit card bill payments in India are done through the platform. “The commerce business is doing well, and we have over 2,000 brands. Our payment piece, which is young, is growing by 60% month on month.”

The startup has over 1,300 brands including Samsung, Myntra and CureFit as members. As per the data shared by the company, it has added around 3 million subscribers in the last two years.

fintech on fire

India’s FinTech Industry at $4.6 Billion
Nearly fourfold increase in fundraising seen In the first nine months of 2021 compared to the year-ago period, a PwC report showed on Monday. Thirty-three deals were registered in the third quarter alone. Companies dealing in fintech offshoots-insurtech, wealthtech, neobanking, etc. gained the interest of investors.

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M2P Fintech’s valuation could double in a matter of weeks

Six fintech unicorns – Digit Insurance, Five Star Finance, Credit, Grow, Zeta and BharatPe – have been mined so far this year. At least four others
Paytmhandjob
MobiKwikhandjob
Policybazaar India And
Pine Labs Looking to tap the public markets in the near future.