India Fintech App Cred Raises Funds at $2.2 Billion Valuation

Financial-technology provider Cred completed a fundraising round valuing the company at $2.2 billion, another unicorn to emerge from India’s red-hot startup scene.

The $215 million Series D round was led by new investor Falcon Edge Capital LP and existing backer Coatue Management LLP, Cred said in an emailed statement Tuesday. DST Global, Tiger Global and Greenoaks Capital were also among existing investors participating.

Cred, founded less than three years ago, operates an app that rewards customers for paying their credit-card bills on time, working together with financial institutions and consumer brands. The company says it has 5.9 million ...