Scoop: Cred in talks to raise new funds as valuation slips by over 30% to $4 billion

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Credit card payment platform Cred is in talks to raise $100-200 million in fresh funding, largely from existing investors, said people in the know.

The deal would value the Kunal Shah-founded startup at around $4 billion, down from the $6.4 billion valuation it commanded three years ago, these people added.

The financing is likely to be led by Singapore sovereign fund rel=”dofollow” href=”https://economictimes.indiatimes.com/general-insurance-corporation-of-india/stocks/companyid-12266.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>GIC, which had led the previous infusion in 2022. Other major shareholders in Cred —such as Peak XV Partners, Tiger Global, Ribbit Capital and QED Innovation Labs —are also likely to…



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Scoop: Cred in talks to raise new funds as valuation slips by over 30% to $4 billion


Credit card payment platform Cred is in talks to raise $100-200 million in fresh funding, largely from existing investors, said people in the know.

The deal would value the Kunal Shah-founded startup at around $4 billion, down from the $6.4 billion valuation it commanded three years ago, these people added.

The financing is likely to be led by Singapore sovereign fund rel=”dofollow” href=”https://economictimes.indiatimes.com/general-insurance-corporation-of-india/stocks/companyid-12266.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>GIC, which had led the previous infusion in 2022. Other major shareholders in Cred —such as Peak XV Partners, Tiger Global, Ribbit Capital and QED Innovation Labs —are also likely to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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