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Cred eyes $100–200 million fundraise at reduced valuation: Report

The new round is projected to value the Kunal Shah-led fintech at around $4 billion - down from its $6.4 billion peak valuation in 2022, as per the report.

April 14, 2025 / 09:33 IST
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Earlier this February, Cred’s loan book crossed Rs 19,000 crore, making it one of the largest among fintechs.

Credit card bill payment platform Cred is reportedly in discussions to raise $100–200 million in fresh funding, primarily from existing investors. The new round is projected to value the Kunal Shah-led fintech at around $4 billion - down from its $6.4 billion peak valuation in 2022, according to an Economic Times report.

The report, citing sources familiar with the matter, further states that this fundraise will likely be led by Singapore’s sovereign fund GIC. Notably, GIC had also spearheaded Cred’s previous round. Other major backers such as Peak XV Partners, Tiger Global, Ribbit Capital, and QED Innovation Labs are also expected to participate.

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Moneycontrol could not independently verify the report.

According to sources cited in the Economic Times report, the company is aimed at securing new capital based on improved financials and significantly reduced cash burn.