CRED to Invest in P2P Lending Platform LiquiLoans 

Credit card invoice cost platform CRED is reportedly planning to speculate $10 million in peer-to-peer (P2P) lending platform LiquiLoans.

With the funding, CRED would purchase a minority stake, LiquiLoans could be valued at $200 million and the 2 corporations would type a strategic alliance, increasing upon their current relationship, Inc42 reported Friday (Sept. 16), citing an announcement from CRED.

“LiquiLoans has innovated in creating trustworthy financing products,” CRED Founder Kunal Shah mentioned, per the report. “It is a leader in peer-to-peer lending with a strong management team. Its work has helped expand access to credit, and we look forward to partnering with them in their next phase of growth and innovation.”

Shah reportedly participated in LiquiLoans’ pre-Series A funding spherical in 2019, in keeping with the report.

LiquiLoans’ P2P lending platform makes use of expertise to match debtors and lenders whereas eliminating the margin that’s charged by conventional banks and nonbank monetary corporations (NBFCs). This makes the method cheaper for debtors and extra profitable for traders, in keeping with the LiquiLoans web site.

“Our goal has been to build a trusted and credible P2P lending platform,” LiquiLoans Co-Founder Achal Mittal mentioned, per the report. “We have partnered and will continue to partner strategically with entities that share similar ethos. Our long-term relationship with CRED and this investment will accelerate our goal of creating efficiencies for seamless borrowing and investments.”

CRED generated $251 million in a Series E funding spherical in October 2021, in a funding drive that pushed its worth to $4 billion.

Read extra: Indian FinTech Cred’s $251M Funding Pushes Company’s Value to $4B

As PYMNTS reported on the time, CRED is powered by an app and is an India-based members-only membership that rewards customers for well timed bank card invoice funds with unique presents and experiences.

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