October 18, 2021
Credit card payment app Cred bags $251m
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The series E round was co-led by Tiger Global and Falcon Edge, which have both invested in Cred prior. Other investors who participated in the round include Marshall Wace, Steadfast Venture Capital, DST Global, Insight Partners, Coatue Management, Sofina, RTP Global, and Dragoneer.
- The new funding puts the startup’s valuation at US$4 billion, almost doubling from the figure in April when Cred closed its US$215 million series D round.
- The fintech unicorn says that it has 7.5 million users and a 20% share of credit card bill payments in India.
India-focused edtech startup ConveGenius raises $5m
- The pre-seed funding was led by BAce Capital, Heritas Capital, and 3Lines Venture Capital, as well as by existing investor Michael and Susan Dell Foundation.
- The Singapore-based company plans to use the fresh funds to launch its conversational platform, ConveGenius AI, in India and other countries.
- ConveGenius was founded in 2013 by Jairaj Bhattacharya and Shashank Pandey. The company says that its platform has acquired 14 million monthly active users since its launch last year.
Social commerce firm Woovly secures $3.6m
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The investment is part of its series A round, which is expected to reach US$10 million at its final close.
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Anthill Ventures, Vinners, and Sana Ventures participated in the deal.
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Launched in 2019 by Venkat J, Neha Suyal, and Hithendra R, Woovly has onboarded over 18,000 users who can earn by reviewing products.
PolicyBazaar parent wins IPO application approval
- Sources said that PB Fintech, the parent company of PolicyBazaar and Paisabazaar, could look to list around Diwali in early November.
- The company filed its prospectus to the Securities and Exchange Board of India on August 2, seeking to raise 6,017 crore rupee (around US$809 million).
- SoftBank Vision Fund Python has a 9.75% stake in the company, and it is expected to cash in around US$250 million worth of shares.