CRED Raises $72 Mn In A Down Round From GIC, Others

GIC spearheaded the round with a total investment of INR 354.4 Cr while RTP Capital and Sofina poured INR 74.9 Cr and INR 25.9 Cr, respectively

The fintech major raised the capital at a valuation of 3.5 Bn, down nearly 45% from $6.4 Bn at which it was last pegged in 2022

CRED is said to have taken the hefty valuation cut as it is exploring a potential initial public offering (IPO) in the next two years

Kunal Shah-led fintech unicorn Cred has raised INR 617 Cr (about $72…