Cred Raises $140 M In Series F; Valuation Surges To $6.4 Billion
Existing backers Tiger Global, Sofina Ventures, Alpha Wave Ventures and Dragoneer also participated in the funding, which values CRED at $6.4 billion
CRED is raising $140 million in a new financing round, its fourth funding in the past year and a half, as the Indian fintech startup courts millions of high credit score customers and broadens its offerings.
GIC, Singapore’s sovereign wealth fund, is leading the Bengaluru-headquartered startup’s Series F financing round, which includes secondary transactions, the startup said Thursday evening. Existing backers Tiger Global, Sofina Ventures, Alpha Wave Ventures and Dragoneer also participated in the funding, which values CRED at $6.4 billion, up from $2.2 billion in April last year and $4 billion in October.
CRED began holding preliminary conversations with a group of investors for this round last year. (At the time, the proposed valuation was about $5.5 billion).
The investment comes at a time when CRED is finalising the acquisition of Smallcase, an Amazon-backed startup. In the early days of the deliberation, CRED sought to make an investment in Smallcase instead of acquiring it.
