India-based startup Cred has raised $81 million in a Series C funding round led by DST Global, a venture capital firm with a portfolio of cutting edge tech companies. This brings their total raised to $130 million and marks the largest ever Series C round for an Indian consumer fintech venture. This is also the second time that Cred has raised funds from DST Global, having previously secured an undisclosed sum in its Series B round. The new investment will help Cred in its mission to become India’s largest digital wallet and make financial services accessible to more users. In this blog post, we’ll take a closer look at the company’s Series C funding round and what it means for their future growth plans.
What is India-based cred?
India-based cred is a digital credit product that offers instant approval and disbursal of loans to Indian citizens. The product is offered by DST Global, a leading online lender in the country. India-based cred is an unsecured loan that can be used for any purpose and comes with flexible repayment terms. The product offers competitive interest rates and charges no prepayment or processing fees.
What is the 81m series dst global?
The 81m series dst global is a type of cred that is specifically designed for use in India. It is a prepaid card that can be used for making payments online and offline. The card comes with a number of benefits, including cash back on purchases, discounts on fuel, and freebies.
The Pros and Cons of India-based cred
When it comes to India-based credit, there are both pros and cons to consider. On the one hand, India-based credit can offer a number of advantages, such as lower interest rates and greater availability of credit products. On the other hand, however, India-based credit can also be associated with some risks, such as higher levels of non-performing loans and fraud.
In terms of pros, one of the main advantages of India-based credit is that it can offer lower interest rates. This is because Indian banks tend to be more competitive when it comes to pricing their products. Additionally, Indian banks often offer a greater variety of credit products than foreign banks, meaning that borrowers have more options to choose from.
However, there are also some risks associated with India-based credit. One of the main risks is that non-performing loans (NPLs) tend to be higher in India than in other countries. NPLs are loans where the borrower has failed to make repayments for 90 days or more. As a result, they represent a higher risk for lenders and can lead to increased borrowing costs. Additionally, fraud levels tend to be higher in India than in other countries, which means that borrowers need to be extra careful when taking out credit products in this country.
How to Apply for an India-Based cred Loan
If you’re looking for an India-based cred loan, there are a few things you’ll need to do in order to apply. First, you’ll need to gather all of the necessary documents. This includes your passport, bank statements, and tax returns. You’ll also need to have a good credit score and a steady income.
Once you have all of your documents together, you can begin the application process. The first step is to fill out an online form. You’ll be asked for basic information about yourself and your finances. Once you’ve submitted the form, a representative from cred will contact you to discuss your loan options.
If you’re approved for a loan, you’ll be given a list of documents that you’ll need to sign. These include the loan agreement, promissory note, and other legal documents. Once you’ve signed everything, the loan will be processed and the money will be deposited into your account.
Alternatives to India-Based cred
There are many alternatives to India-Based cred, such as:
1. US-based credit cards: There are many credit cards available in the US that offer rewards and perks that can be used for travel. Some of the best include the Chase Sapphire Reserve, the American Express Platinum Card, and the Citi Prestige Card.
2. UK-based credit cards: If you’re looking for a UK-based credit card, there are plenty of options available. Some of the best include the Virgin Atlantic Black Credit Card, the British Airways American Express Premium Plus Card, and the HSBC Premier World Elite Mastercard.
3. Canadian-based credit cards: There are several Canadian-based credit cards that offer great rewards and benefits for travellers. Some of the best include the TD First Class Travel Visa Infinite Card, the CIBC Aventura Visa Infinite Card, and the BMO World Elite Mastercard.
4. Australian-based credit cards: If you’re looking for an Australian-based credit card, there are several great options available. Some of the best include the ANZ Frequent Flyer Black Visa Credit Card, the Westpac Altitude Black American Express Card, and the NAB Rewards Platinum Visa Credit Card.
5. New Zealand-based credit cards: There are several New Zealand-based credit cards that offer excellent rewards and benefits for travellers. Some of the best include the Air New Zealand OneSmart Premium Credit Card, The Warehouse
Conclusion
The recent investment by DST Global in India-based Cred highlights the growing potential of fintech startups in the country. With this investment, Cred has further strengthened its position as a major player in India’s digital payments market and is well on its way to become one of the leading Fintech companies in the region. We are excited about what lies ahead for Cred and look forward to seeing how it will shape up in terms of product offerings, customer services and more.
