Financial technology startup Dreamplug Technologies Pvt. Ltd., d/b/a Cred, raised US$120 million in series B funding round, which was led by existing investors Ribbit Capital, Gemini Investments LLC and Sequoia Capital, The Economic Times reported.
While regulatory filings show that the company secured US$100 million of private equity, it said it raised an additional US$20 million of capital from investors, including Tiger Global Management LLC, Hillhouse Capital Management Ltd., General Catalyst Partners, Greenoaks Capital Partners LLC and Dragoneer Investment Group LLC, according to the Aug. 27 report.
Cred provides a platform for all forms of credit card bill payments, and offers customers gift vouchers and discount coupons for paying their bills through the Cred application.
