After securing ₹612 cr in Series G Down Round, CRED is valued at $3.5 billion
Indian Fintech platform CRED secured a whopping ₹612 crore (approximately $72 million) in the Series G funding round. This round was a down round from the prior $6.4 billion valuation in 2022. With this current round, the valuation is summed up to around $3.5 billion, which is a sharp 45% decline.
The funding round was led by GIC and other major investors, including Tiger Global, Peak XV Partners, and DST Global, showing confidence in CRED’s long-term vision. Other investors, Sofina Ventures, invested Rs 25.8 cr, and OED Innovation Labs also contributed Rs 162 crore.
The recently raised funds will be utilised to support CRED’s growth initiatives, like expanding reward-led payment, and also exploring new verticals like lending and rent payments.
