Cred in talks to raise funds; aiming a valuation of $800 million
Credit card repayment startup and second venture of Freecharge co-founder Kunal Shah, Cred, is in talks to raise $100 million. Expected valuation for the raise ranges between $700 million and $800 million.
Cred’s growth has also been driven by its marketing campaign during the ongoing IPL. Over the last few weeks, users signing up to use Cred have risen 6-7 times.
Cred was last valued at $450 million in August 2019 when it raised $120mn in series A funding.
Paytm announces Rs 10 crore fund for mini-app developers on Paytm Mini App store
Paytm announced Rs 10 crore investment for mini-app developers on Paytm Mini App Store. The platform was launched recently by the fintech giant days after the company, along with other startups accused Google of being unfair for charging 30% commission.
The platform will not charge the apps any listing fee to the mini-app developers and is providing free payment avenues such as Paytm Wallet, Paytm Payments Bank and UPI. However, a two percent charge will be levied on credit cards.
Korean carmakers, Hyundai and Kia improve market share to 23 per cent in Jan-Sept
Carmakers from Korea have found a sweet spot in India with the help of technologically superior products.
The increase in market share has primarily come at the expense of Indian car manufacturers, more specifically Mahindra & Tata Motors.
The 23% market share of the Korean brands is significantly higher than the 18% share during the corresponding year-ago period.
