Cred in talks to raise new funds as valuation slips by over 30% to $4 billion

According to sources familiar with the matter, the credit card payment platform Cred is in discussions to raise between $100 million and $200 million in new funding, primarily from existing investors. This funding round would value the startup, founded by Kunal Shah, at approximately $4 billion, a decrease from its previous valuation of $6.4 billion three years ago.

The financing is expected to be led by the Singapore sovereign fund GIC, which previously led an investment round in 2022. Other major shareholders of Cred, including Peak XV Partners, Tiger Global, Ribbit Capital, and QED Innovation Labs, are also anticipated to participate in this funding.​