"Our growth in the past year has demonstrated the potential value of the high-trust, low-friction platform the CRED team has been building and has earned conviction of investors. CRED has closed its Series D funding round of $215 at $2.2B valuation," Shah tweeted. The company has grown rapidly over the past 2.5 years, with 35 per cent of premium credit card holders and processing 22 per cent of all credit card payments in India on a monthly basis, he told employees. The company also announced the development separately in its newsletter. According to Crunchbase, the company had raised $256.5 million so far. The latest round brings the total fundraise to $471.5 million.