Kunal Shah’s Cred’s $120 Million Series B funding Round


Khaitan & Co advised Gemini Investments, L.P. in relation to Series B investment round in Dreamplug Technologies Private Limited (dba Cred).

The Bengaluru-based fintech startup has raised close to $120 million as a part of its Series B round led by Ribbit Capital, Gemini Investments, as well as existing investor Sequoia Capital. With this round of funding, the total valuation of the startup stands at around $450 million.

Other investors participating in this round include RTP Global (earlier Ru-Net), HillHouse, Tiger Global, Greenoaks Capital, as well as DF International.

Cred is a members-only app, which gives exclusive rewards for paying your credit card bill in a timely manner.

Khaitan & Co advised Gemini Investments, L.P. with a team including Sharad Moudgal (Picture), Sanjay Khan Nagra, Aniruddha Basu, Neil Deshpande, Nikita Arora and Sanjay Krishna with assistance from Srishti Ramkrishnan on employment aspects.

Involved fees earner: Sanjay Khan Nagra – Khaitan & Co.; Sharad Moudgal – Khaitan & Co.; Srishti Ramkrishnan – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Gemini Investments, L.P.;

Author: Michael Patrini