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In accordance with a regulatory submitting with the Registrar of Corporations (RoC), the digital funds platform has allotted 42,308 Collection F Compulsorily Convertible Choice Shares (CCPS) having a face worth of Rs 100 every at a premium of Rs 1,47,746 every to lift $80 million.
The agency raised cash in three phases in 2021: $81 million within the Collection C spherical, $215 million within the Collection D spherical, and lastly $251 million within the Collection E spherical.
Cred, a platform for paying bank card payments and incomes factors, was launched in 2018 by serial entrepreneur Kunal Shah. Since then, it has grown into loans, e-commerce funds, model promoting, and short-term borrowing by Purchase Now Pay Later (BNPL) options.
The moderately profitable fundraiser comes at a time when total funding for Indian companies has been stalled as a result of a world correction in digital firm valuations.
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