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Total amount raised
$878M
Latest funding date
2025-06-09
Location
CRED has successfully raised funds through 9 different funding rounds, with the latest being a "Venture - Series Unknown" round led by Lathe Investment. The platform is backed by 37 investors, including notable names like Lathe Investment and Sofina.
As a members-only club, CRED rewards financially trustworthy individuals with exclusive perks and privileges. Keep reading to explore the intricacies of CRED's fundraising journey and the investors backing this innovative platform.
CRED, the Bengaluru-based fintech unicorn founded by Kunal Shah, has raised over $878 million across seven primary funding rounds from some of the world's leading venture capital and sovereign wealth funds.
Keep reading to explore CRED's full fundraising journey, key investors, and what's next for the company.
What Is CRED?
CRED is a members-only financial platform founded in 2018 by serial entrepreneur Kunal Shah. It is designed exclusively for high-credit-score individuals (750+) and rewards users for responsible financial behaviour — particularly for paying credit card bills on time. Beyond bill payments, CRED has expanded into personal loans (CRED Cash), buy-now-pay-later services, e-commerce (CRED Store), and travel. Headquartered in Bengaluru, India, CRED operates under its parent entity Dreamplug Technologies and serves millions of premium users across India.
How Much Funding Has CRED Raised?
CRED has raised approximately $878 million across disclosed primary funding rounds. Here is a breakdown of each round:
- Seed Round
- Amount Raised: $30,000,000
- Date: November 2018
- Lead Investors: Sequoia Capital India (Peak XV Partners)
- Other Participants: RTP Global and others
- Series A
- Amount Raised: ~$25,000,000
- Date: April 2019
- Lead Investors: Sequoia Capital India, Ribbit Capital, RTP Global
- Other Participants: Multiple angel investors and institutional investors
- Series B
- Amount Raised: $120,000,000
- Date: August 2019
- Lead Investors: Sequoia Capital India (Peak XV Partners), Ribbit Capital, Gemini Investments (DST Global)
- Other Participants: Tiger Global, Hillhouse Capital, General Catalyst, Greenoaks Capital, Dragoneer Investment Group
- Valuation: ~$450 million
- Series C
- Amount Raised: $80,000,000
- Date: November 30, 2020
- Lead Investors: DST Global
- Other Participants: Sequoia Capital India, Ribbit Capital, Tiger Global, Coatue Management, Sofina
- Valuation: ~$800 million
- Series D
- Amount Raised: $215,000,000
- Date: April 6, 2021
- Lead Investors: Falcon Edge Capital, Coatue Management
- Other Participants: Insight Partners, DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, Sofina
- Valuation: ~$2.2 billion (unicorn status achieved)
- Series E
- Amount Raised: $251,000,000
- Date: October 18, 2021
- Lead Investors: Tiger Global Management, Falcon Edge Capital
- Other Participants: Marshall Wace, DST Global, Insight Partners, Coatue Management, Sofina, RTP Global, Dragoneer Investment Group, Steadfast Capital
- Valuation: ~$4.01 billion
- Series F
- Amount Raised: $140,000,000
- Date: June 9, 2022
- Lead Investors: GIC (via Lathe Investment)
- Other Participants: Tiger Global, Sofina Ventures, Alpha Wave Ventures, Dragoneer Investment Group
- Valuation: ~$6.4 billion
- Series G
- Amount Raised: $72,000,000 (Rs 617 crore)
- Date: June 9, 2025
- Lead Investors: GIC (via Lathe Investment — contributed ~$41 million)
- Other Participants: RTP Global (~$8.75M), Sofina Ventures (~$3M), QED Innovation Labs / Kunal Shah family office (~$19M)
- Valuation: ~$3.5 billion (a down round, ~45% reduction from 2022 peak)
Total Amount Raised: Approximately $878 million across disclosed primary funding rounds.
Key Investors
- GIC (via Lathe Investment)
- Details: Singapore's sovereign wealth fund. Lead investor in both the Series F ($140M, June 2022) and Series G ($72M, June 2025) rounds. In Series G, GIC contributed approximately $41 million (Rs 354.4 crore), the largest single investor in the round.
- Peak XV Partners (formerly Sequoia Capital India)
- Details: Led CRED's Seed round in 2018 and co-led Series B in 2019. One of CRED's earliest and most prominent institutional backers.
- Ribbit Capital
- Details: Fintech-focused VC that co-led the Series B round alongside Peak XV Partners and Gemini Investments. Continued participation in subsequent rounds.
- Tiger Global Management
- Details: Participated from Series B onwards and co-led the Series E round alongside Falcon Edge Capital in 2021.
- Coatue Management
- Details: Co-led the Series D round in 2021 alongside Falcon Edge Capital, helping CRED achieve unicorn status at a $2.2 billion valuation.
- DST Global
- Details: Participated from Series B through Series E. Led the Series C round in November 2020 at an $800 million valuation.
- RTP Global
- Details: Early investor participating from Series A through the Series G round in 2025.
- Sofina Ventures
- Details: Belgian family holding company that participated from Series C through Series G, demonstrating long-term commitment to CRED.
What's Next for CRED?
CRED is focused on expanding its financial services ecosystem in India and deepening engagement with its premium member base. The company continues to invest in products like CRED Cash (personal loans), CRED Pay, and CRED Travel while expanding its platform offerings. Despite the down round in 2025 reflecting recalibrated valuations across the global tech sector, CRED's growing revenues and narrowing losses suggest a continued path toward profitability. The company is expected to explore further monetization avenues and may consider a public listing in the coming years as the Indian fintech market matures.
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