Tech
Scoop: Cred in talks to raise new funds as valuation slips by over 30% to $4 billion
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Credit card payment platform Cred is in talks to raise $100-200 million in fresh funding, largely from existing investors, said people in the know.
The deal would value the Kunal Shah-founded startup at around $4 billion, down from the $6.4 billion valuation it commanded three years ago, these people added.
The financing is likely to be led by Singapore sovereign fund GIC, which had led the previous infusion in 2022. Other major shareholders in Cred —such as Peak XV Partners, Tiger Global, Ribbit Capital and QED Innovation Labs —are also likely to…
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