CRED Raises $72 Mn In A Down Round From GIC, Others

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SUMMARY

GIC spearheaded the round with a total investment of INR 354.4 Cr while RTP Capital and Sofina poured INR 74.9 Cr and INR 25.9 Cr, respectively

The fintech major raised the capital at a valuation of 3.5 Bn, down nearly 45% from $6.4 Bn at which it was last pegged in 2022

CRED is said to have taken the hefty valuation cut as it is exploring a potential initial public offering (IPO) in the next two years

Kunal Shah-led fintech unicorn Cred has raised INR 617 Cr (about $72…



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CRED Raises $72 Mn In A Down Round From GIC, Others


SUMMARY

GIC spearheaded the round with a total investment of INR 354.4 Cr while RTP Capital and Sofina poured INR 74.9 Cr and INR 25.9 Cr, respectively

The fintech major raised the capital at a valuation of 3.5 Bn, down nearly 45% from $6.4 Bn at which it was last pegged in 2022

CRED is said to have taken the hefty valuation cut as it is exploring a potential initial public offering (IPO) in the next two years

Kunal Shah-led fintech unicorn Cred has raised INR 617 Cr (about $72…



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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