Fintech Unicorn CRED Finalise Acquisition Smallcase for $400 Mn

Bengaluru-based fintech unicorn CRED, a members-only credit card management and bill payment platform is said to have finalized the acquisition wealth management company Smallcase for a consideration of around $400 million

The development comes at a $6.4 billion valuation in June in a fundraising round led by CRED’s $140 million, Singapore sovereign wealth fund GIC.

Sequoia Backed with CRED to acquire Smallcase, According to an industry source close to the development, funding discussions between the two companies have been going on for a few months now.

Note: Initially, CRED had no plans to acquire Smallcase. The source said, CRED has already completed the paperwork related to the acquisition and the deal is likely to be announced soon.

Separate emails sent to CRED founder Kunal Shah and Smallcase founder Vasant Kamath did not elicit a response when the article was published.

Smallcase was founded in 2015 by Vasant Kamath along with Anugrah Srivastava and Rohan Gupta in Bengaluru,..

Thank You For Visiting Here! If You want to know more visit on full article to know full details.