Friday, September 20, 2024
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Cred

Prior to this, the company raised Rs 1.02 crore in a funding round in 2022 from several angel investors like Kunal Shah

The company will utilise the newly generated capital to establish an initial team and facilitate the launch of its application

Founded by entrepreneurs Anshul Rai and Varun Rathi, Happay has an employee bandwidth of more than 450 employees

With a valuation of $6.5 billion, Cred aims to compete with major UPI players like PhonePe and Google Pay, while navigating challenges such as losses and increasing its revenue

Pravega Ventures led this round with participation from family investors such as Weizmann Group, Telama Family Office and Apurva Parekh, Pidilite Family Office

How Indian start-up founders turned the tables on shrewd Indian venture capitalists

According to media reports, on average, a chief executive in India earns a salary of around Rs 8.4 crore per annum

The start-up received offers from 4 out of 5 sharks owing to its unique proposition and robust financials

Flash will utilise this capital for product development, expansion in global markets and hiring skilled employees

CreditVidya’s 200-strong team will get all the benefits extended to CRED team members, including its employee stock option program (ESOP)