News | Cred Raises ₹617 Crore at $3.5 Billion Valuation

Cred Raises ₹617 Crore at $3.5 Billion Valuation—Down 45% in ‘Strategic Reset’

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12 June 2025

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Bengaluru-based fintech Cred has secured ₹617 crore (~$72 million) in primary capital funding at a lowered valuation of $3.5 billion, marking a 45% decline from its $6.4 billion valuation during its 2022 round.. Leading the round was Singapore’s sovereign wealth fund GIC via Lathe Investment with ₹354 crore, joined by RTP Global (₹75 crore), Sofina Ventures (₹25.8 crore), and QED Innovation Labs (₹162 crore)—Kunal Shah’s family office

. This down round, comprised entirely of fresh capital (no secondary share sales), aligns with Cred's strategy to recalibrate ahead of a potential India IPO in the next two years

Despite the valuation drop, Cred posted a robust 66% revenue growth to ₹2,473 crore in FY24, while slashing operating losses from ₹1,024 crore to ₹609 crore

The company is deepening its financial services suite—unsecured personal loans, mutual-fund-backed secured lending, and vehicle services through Cred Garage, now serving over 11 million vehicles and supporting a ₹15,000 crore loan book via partner lenders

Founder Kunal Shah, in conversation with Forbes India, emphasized that “valuation is a point‑in‑time view,” underscoring the priority on revenue, profitability, and sustainable growth

In the context of India’s fintech landscape, Cred’s reset mirrors broader investor preference for profitability and IPO readiness over rapid valuation hikes—joining peers like Groww and Pine Labs in preparing for public market entry.

Reference: EconomicTimes