In recent years, India has become an increasingly attractive destination for investment, with venture capitalists pouring in for the growth potential of its rapidly developing technology sector. One of these investors is DST Global, a leading global venture capital firm that has recently completed an $81 million Series A round of funding for Indian-based cred. Cred is a fintech platform that offers an array of services to customers, from loan disbursement to investments and more. This new round of funding will allow them to expand their services and grow their customer base even further. In this blog post, we will discuss the implications of DST Global’s investment in Cred, and what it means for the Indian startup ecosystem.
What is IndiaBased cred?
IndiaBased cred is a new type of credit score that gives Indian consumers access to better credit products. It is based on the same data as the traditional FICO score, but uses a different model to better reflect the unique characteristics of the Indian market. IndiaBased cred is available for free to all Indian consumers and is used by lenders to make better-informed credit decisions.
The Different Types of cred
There are four main types of credit in the Indian banking system:
1. Housing loan
2. Car loan
3. Education loan
4. Personal loan
Housing loans are the most popular type of credit in India, as they allow people to purchase their own homes. Car loans are also popular, as they enable people to finance the purchase of a new or used vehicle. Education loans are taken out to cover the costs of tuition, books, and other expenses associated with attending college or university. Personal loans are used for a variety of purposes, such as consolidating debt, financing a vacation, or paying for unexpected expenses.
What is the difference between IndiaBased cred and other credit options?
When it comes to choosing a credit option, there are many factors to consider. Interest rates, repayment terms, and eligibility requirements can all vary depending on the type of credit you choose. So what is the difference between IndiaBased cred and other credit options?
For starters, IndiaBased cred is designed specifically for Indian businesses. That means that the eligibility requirements, interest rates, and repayment terms are all tailored to meet the needs of Indian businesses. Other credit options may not be as flexible or tailored to Indian businesses, which can make them less attractive options.
Another key difference is that IndiaBased cred offers more competitive interest rates than other credit options. That means you can save money on your loan repayments by choosing IndiaBased cred over other options.
Finally, IndiaBased cred offers a faster and more convenient application process than other credit options. You can apply for your loan online in just a few minutes, and you’ll receive a decision within 24 hours. Other credit options can take weeks or even months to process your application and give you a decision, which can be frustrating if you’re in need of quick funding.
So if you’re looking for a business loan that is tailored to meet the needs of Indian businesses, offers competitive interest rates, and has a fast and convenient application process, then IndiaBased cred is the right choice for you.
How to use IndiaBased cred
If you’re looking to use IndiaBased cred, there are a few things you’ll need to keep in mind. First, you’ll need to have an account with IndiaBased. Once you’ve done that, you can log in and select the cred you want to use. There are two types of cred: mSeries and DST Global.
Once you’ve selected the type of cred you want to use, you’ll need to enter the amount of money you want to spend. After that, you can either pay with your credit card or through PayPal. Once the payment is processed, your cred will be added to your account balance and can be used immediately.
When using your cred, it’s important to remember that it can only be used on India-based websites. If you try to use it on a non-Indian website, your transaction will be declined. Additionally, your cred balance must be sufficient for the entire purchase amount – it cannot be split between multiple payments.
Finally, when using IndiaBased cred, always make sure that you’re logged into your account before making a purchase. This way, if there are any problems with the transaction, we can help resolve them quickly and easily.
Alternatives to IndiaBased cred
1. Alternatives to India-based credit cards
If you’re looking for alternatives to India-based credit cards, there are a few options available. You can choose from a variety of international credit cards, which will allow you to make purchases in Indian rupees. Alternatively, you can get a prepaid card from an international provider such as Visa or Mastercard. These cards can be used anywhere that accepts Visa or Mastercard, and they don’t require a bank account in India. Finally, you can use a foreign currency exchange site to convert your home currency into Indian rupees.