CRED has secured $72 million in a down round led by GIC’s Lathe Investment, valuing the company at $3.5 billion, a 45% drop from its previous $6.4 billion valuation in 2022. Alongside GIC’s INR 354.4 Cr investment, RTP Global Capital, Sofina, and Kunal Shah‘s QED Innovation Labs also participated. This funding arrives as CRED eyes a potential IPO, having grown FY24 revenue by 71% to INR 2,397 Cr, while losses rose to INR 1,644 Cr. Recent initiatives include partnerships with CARS24 and Spinny, the launch of CRED Cash+, and the introduction of CRED e₹ wallet with RBI.
CRED has secured $72 million in a down round led by GIC’s Lathe Investment
