It had last raised $140 m in its Series F funding round led by GIC in the same year
Fintech start-up CRED plans to raise around $75 million in a latest funding round, according to sources. The funding will see participation from existing investors including Singapore’s sovereign wealth fund GIC, Sofina and RTP Global.
The Bengaluru based start-up is expected to utilise the proceeds to scale its credit card business while entering other business adjacencies.
The latest round of funding will take CRED’s valuation to about $3.5 billion, a 45 per cent decrease from its valuation of $6.5 billion in 2022. It had last raised $140 m in its Series F funding round led by GIC in the same year.
The funding comes after the Kunal-Shah led company had launched a beta version of its e-rupee (e₹) wallet in January of this year, becoming the first fintech to integrate RBI’s central bank digital currency. It has also partnered with used-car marketplaces CARS24 and Spinny to enable users to sell their cars on its platform.
CRED reported revenue of ₹2,473 crore, a 66 per cent increase in FY24 on the back of higher product adoption and growth of monetised users, while narrowing operational loss by 41 per cent to ₹609 crore.
(Inputs by BL Intern Rohan Das)
Published on May 28, 2025
