CRED's valuation reaches $4 billion after raising $251 million in funding round
Kunal Shah's startup CRED has raised $251 million in the Series E funding round. The funding round was led by existing backers Tiger Global Management and Falcon Edge Capital. Two new investors- hedge funds Marshall Wace and Steadfast Capital, also participated in the funding round. With the fresh funding, the valuation of CRED has doubled to $4 billion in barely six months. CRED's valuation was $800 million less than a year ago.