CRED set to raise $75 million at $3.5 billion valuation

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The down round will help stabilize the Kunal Shah-helmed fintech’s runway as it tackles headwinds in unsecured lending. CRED is close to announcing a deal to raise $75 million from existing investors, with the round being led by Singaporean sovereign wealth fund GIC. The deal values the company at $3.5 billion, a decrease from its $6.4 billion valuation in 2022. The company reported revenue of Rs 2,473 crore and a loss of Rs 1,644 crore in FY23-24.

Published by: The Morning Context
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