Bengaluru: Fintech startup Cred has closed a $120 million funding round, led by existing backers Ribbit Capital, Gemini Investments, a personal investment vehicle of Yuri Milner’s DST Global, and Sequoia Capital While regulatory filings show an infusion of $100 million, the company said it has racked up an additional $20 million from investors. This will be one of the largest funding rounds for a lessthan-a-year-old Indian company. New investors joining the financing round, which values the startup at $450 million, include Tiger Global, Hillhouse Capital, General Catalyst, Greenoaks Capital and Dragoneer. The Bengaluru-based Cred was valued at $75 million when it first raised capital last year. Freecharge founder Kunal Shah , who launched Cred as his second venture, has positioned the company as a platform for all forms of credit card bill payments. Consumers are offered gift vouchers and discount coupons at retail outlets across the country for paying their bills on Cred.Confirming the new funding round to ET, Shah said the fresh capital will be used to expand into international markets and strengthen its merchant ecosystem. He said the company was in talks with various banks to strike partnerships and offer the Cred platform to help them disburse personal loans through credit cards.Shah said the company did not intend to compete with banks on the credit front, but will instead be their front-end interface as they aim to push credit card usage in the country.ET had reported that Cred was in talks to raise a $100 million series B round in its March19 edition. It also later reported that Hillhouse Capital and General Catalyst were likely to back the firm.