Algo Legal Advises CRED on its Series D Round at a USD 2.2B Valuation

Algo Legal Advises CRED on its Series D Round at a USD 2.2B Valuation

Algo Legal acted as the legal counsel to Dreamplug Technologies Private Limited on raising USD 215 million in a Series D round of funding, with a post-money valuation of USD 2.2 billion. Dreamplug Technologies owns and operates the credit card bill payment platform CRED.

The Series D round was led by new investor Falcon Edge Capital and existing investor Coatue Management and also saw investments from Insight Partners, DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, and Sofina.

The Algo team was led by Abhinav Bhalaik, Mahika Parikh, Mayank Jhunjhunwala, Naveen Jain, Riya Gupta, and Abu Talha.

Credit card repayment platform Cred has concluded its Series D funding recently, raising $215 million, founder and chief executive Kunal Shah said in a note to employees. The startup had conducted its Series A round in August 2019—$120 million at a valuation of $450 million. 

About Algo Legal

Algo Legal is new age technology backed firm focused on venture capital and private equity firms, VC-funded start-up companies and corporate businesses. Algo was founded in 2019 and is focused on providing a niche offering of bespoke legal representation to its clients by combining its deep domain knowledge and legal acumen and its expertise in legal innovation and technology. Algo’s mission is to be a one-stop-shop for all the legal requirements in the investment space. The firm is headquartered in Bangalore and has offices in Mumbai and Delhi. The Algo team is multi-disciplinary and has decades of deal experience spanning 3000 investment rounds amounting to over USD 10 billion in transaction value. Algo has been recognized by Financial Times as one of The Most Innovative Law Firms in Asia Pacific in 2020 and has recently been enlisted as a Top Law Firm by Forbes India in the VC and PE category. For more information, please visit https://algolegal.in/