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Themis, Indus, Khaitan, AZB act on $120m Series B investment into fintech Cred

Fintech firm Cred has raised $120 million (Rs 862 crore) in a new funding round, founder Kunal Shah tweeted... according to filings with the Ministry of Corporate Affairs, Cred has raised Rs 730.02 crore from a clutch of investors in its Series B funding round. Ribbit Capital, a fintech-focused global fund, and Gemini Investments, an investment vehicle of Yuri Milner’s DST Global, put in Rs 144.62 crore each, the highest amount among the investors. Sequoia Capital, through its fifth investment vehicle, invested Rs 117 crore. The venture capital firm had also put in $4 million into the company recently. Russian venture capital firm RTP Global and US-based investment firm Tiger Global brought in Rs 103.3 crore each.


Themis Associates represented Dreamplug Technologies Pvt Ltd, which operates Cred, led by partner Siddharth Manchanda, senior associate Priya Makhijani, associate Ashwat Malhotra, and associate Rohit Jain.

IndusLaw advised Ribbit Capital Mauritius IV led by a team of partners Srinivas Katta and Winnie Shekhar, with lawyers Stuti Agarwal, Rajat Jain, Prerna Bharti.

Khaitan & Co acted for Gemini Investments LP, owned by DST Global, led by a team of partner Sharad Moudgal, partner Sanjay Khan Nagra, senior associate Aniruddha Basu, associate Neil Deshpande, associate Nikita Arora and associate Sanjay Krishna with assistance from associate Srishti Ramkrishnan on employment aspects.

Themis Associates also acted for Sequoia led by partner Vinayak Mishra and associate Ronak Shah.

Gunderson Dettmer represented Internet Fund V Pte Ltd owned by Tiger Global.

Goodwin Procter represented Hillhouse Capital.

Update 5 October 2019: AZB & Partners advised General Catalyst Ventures led by a team of partners Ashwath Rau and Shreya Rao, Counsel Jasmin Karkhanis, senior associate Karan Nelivigi.


Deal value: Publicly disclosed as USD 120 million

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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