CRED Secures $72 Million in Fresh Funding Round: Valuation Impacted Significantly

CRED, a fintech unicorn has raised ₹617 crore (approximately $72 million) from a consortium of investors in a new funding round. The round features participation from prominent names such as GIC’s Lathe Investment, RTP Global, Sofina Ventures, and QED Innovation Labs, the family office of CRED founder Kunal Shah.

Investor Breakdown

According to filings with the Registrar of Companies (RoC):

• GIC’s Lathe Investment contributed the lion’s share with ₹354.4 crore ($41 million).
• RTP Global invested ₹74.87 crore ($8.75 million).
• Sofina Ventures added ₹25.8 crore ($3 million).
• QED Innovation Labs, Kunal Shah’s family office, infused ₹162 crore ($19 million).

The funding round is expected to close at $75 million, according to Entrackr.

Valuation Update: CRED Faces Significant Haircut

Post this funding round, CRED’s valuation is projected to drop to $3.64 billion, marking a 43% decline from its $6.4 billion Series F valuation in June 2022 when it raised $140 million. Despite the markdown, the company continues to attract investor interest, signalling confidence in its long-term growth prospects.

Following the completion of this round:

• GIC (Lathe Investment) will hold a 5.95% stake in CRED.
• RTP Global will control 1.14%.
• Sofina Ventures will own 1.97%.

These figures reflect the restructured cap table based on the latest investment.

About CRED's Expanding Services

CRED continues to evolve beyond credit card management. Its platform now offers:

• Credit score tracking
• Detection of hidden charges
• Bill payment alerts
• Cashback rewards
• Shopping and travel offer
• Tools for managing vehicle insurance and FASTag

This multi-pronged approach positions the company as a broader financial ecosystem platform.

Also Read: Best Investments for Monthly Income in India for June 2025 

CRED’s Financial Performance

Despite eyeing profitability by FY26, CRED’s net loss rose by 22% in FY24, reaching ₹1,644 crore. This figure includes ESOP-related costs and taxes. However, the company demonstrated strong top-line momentum, with revenue jumping 66% YoY to ₹2,473 crore during the same period.

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