AZB & Partners represent Tiger Global Management in stake acquisition in Cred
Tiger Global Management has acquired stake in Fintech platform Cred – an Indian credit card dues repayment platform for an amount of Rs. 16 Billion, in a Series D equity funding round, along with others. Dreamplug Technologies Private Limited operates Cred.
Launched in 2018, Cred is a credit-card repayment platform that helps users pay their credit card bills and rewards users with points which can be used for offers and discounts on various products.
Tiger Global Management, LLC (Tiger Global) is an American investment firm. It mainly focuses on internet, software, consumer, and financial technology industries.
New investors – Falcon Edge Capital and Insight Partners also participated in the round alongwith existing investors Coatue Management, LLC; DST Global; RTP Global; Greenoaks Capital Partners LLC; Dragoneer Investment Group, LLC and Sofina SA.
Cred has raised $215 million, at a post-money valuation of $2.2 billion. With this round, Cred joins the list of unicorns in the country.
Partners from AZB & Partners who participated in the deal included Ashwath Rau, Srinath Dasari, Nanditha Gopal and Senior Associates – Shantanu Singh, Karishma Dugar.