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2-year-old CRED valued at $800 million after $80 million funding round

CRED, a two-year-old startup that is helping credit card users in India improve their financial behaviour, has raised $80 million in a new financing round, a source familiar with the matter told TechCrunch.
The new financing round, a Series C for CRED, was led by existing investor DST Global. Much of the round — in fact, if not all — has been financed by existing investors, including Sequoia Capital and Ribbit Capital, that are doubling down on Kunal Shah’s startup, the source said on condition of anonymity as they are not authorized to speak to the media.
The new round gives CRED a post-money valuation of about $800 million, the source said. That’s up from about $450 million valuation that CRED attained after its $120 million Series B round last year.
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