CRED set to raise $75 Mn at $3.5 Bn valuation led by GIC
Here’s a summary of the funds, investors, startup information, founders, fundraising series, and dates based on the provided text:
Startup Information
- Startup Name: CRED
- Founder: Kunal Shah
Fundraising Details
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Recent Fundraising
- Amount Raised: $75 million
- Date: Expected to be announced shortly (not specified)
- Investors:
- GIC (leading through Lathe Investment)
- RTP Global
- Sofina
- Kunal Shah (investing $20 million)
- Previous Fundraising
- Amount Raised: $140 million
- Date: June 2022
- Valuation: $6.4 billion
- Investors: Led by GIC
Additional Funding Information
- Total Funds Raised: $1 billion across nine rounds
- Largest External Stakeholder: PeakXV (10.4%)
- Other Notable Investors: Ribbit Capital, Tiger Global
- Founder Stake: Kunal Shah (22.8%)
Current Valuation & Financials
- Current Valuation after latest round: $3.5 billion (45% drop from previous)
- Recent Financial Performance: Reported a 22% increase in net loss to Rs 1,644 crore for FY24 but a 66% increase in revenue to Rs 2,473 crore.
This summary captures the key financial and operational details of CRED as mentioned in the provided text.
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2025-05-27 10:43:57