Cred, which is a Bangalore based credit card bill payment startup, has now secured $4 Million from the Sequoia Capital India. The investment came into the news after finalizing a #120 million fresh funding from the existing and some other new investors.
The platform will be going to use the freshly used capital to accelerate its expansion, marketing, growth, and general corporate activities.
Cred was founded by the Kunal Shah, the founder of FreeCharge. The app provides exclusive rewards for paying credits bill in a timely manner.
It provides the credit card holder to pay bills with an app and get a bouquet of benefits with the Cred gems and coins. These virtual coins and gems can be redeemed across the movie theatres, eCommerce sites and coffee shops, and others.
According to the report which has been revealed, the valuation of the company is even expected to raise around $400 million from the $75 million.