$81 mn fund raise pushes Credit card app CRED's valuation past $806 mn

Existing investor, billionaire Yuri Milner's fund DST Global leads round, along with Sequoia Capital, Tiger Global, and others. Existing and past employees liquidate ESOPs worth Rs 9 cr

CRED, an app that allows users to pay their credit card bills and gives rewards in return, has raised $81 million in its Series C round at a post-money valuation of $806 million. The partners of existing CRED investor Israeli-Russian billionaire Yuri Milner's investment fund DST Global led the round, along with Sequoia Capital, Ribbit Capital, Tiger Global, and General Catalyst. In addition, other investors, Sofina, Coatue and Satyan Gajwani of Times Internet also invested in this round.

In the process, existing and former employees have liquidated their ESOPs (employee stock ownership plan), collectively worth $1.2 million (Rs nine crore).