CRED to acquire SaaS startup CreditVidya

Fintech unicorn CRED is to acquire Hyderabad-based CreditVidya, which operates a lending-as-a-service platform, in a cash-and-stock dea. While CreditVidya will continue to operate independently, CreditVidya's 200+ team members will get all the benefits extended to CRED team members, including its ESOP programme. CreditVidya enables businesses to embed customised credit products through APIs. It provides AI-powered credit underwriting APIs to NBFCs and other financial institutions and companies.