CRED is raising its third round this year

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Editor's note: Bengaluru-based fintech startup CRED announced it had raised a $81 million Series C funding round at a valuation of around $800 million in January. In April, it announced a $215 million Series D round at a valuation of $2.2 billion. (We had reported the round a month earlier, in March, and that CRED’s valuation would be more than doubling.) Now, the company is raising yet another funding round, according to three people aware of the matter, who asked not to be named; it may get between $200 million and $250 million in fresh capital, according to one of the people. The valuation? $4 billion, all three confirm. The round is still ongoing, and both the funding amount and the valuation could be even higher. It’s not clear yet whether any new investors will be joining in, or whether existing investors (including Tiger Global, DST Global, Sequoia Capital and Ribbit Capital) will participate. If this goes through, this will make Kunal Shah-led CRED probably the only company in the ecosystem to have raised three back-to-back funding rounds with valuation more than …