CRED’s down round?

Why CRED did a down round by 45%? Any CRED folks can make us understand this? Is company struggling with cash?

Key Highlights:

Funding Raised: $72 million (approx. ₹617 crore)

New Valuation: $3.5 billion

Previous Valuation: $6.4 billion (2022)

Investors: GIC and existing backers participated

Sector: Fintech / Credit card bill payments / Consumer rewards

1mo ago

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PrancingMuffin

Deflating is better than bursting

QuirkyTaco

I agree but by 45%!! That’s huge !!

JazzyWalrus

In a desperate situation?

WigglyBanana

At this stage, tough for them to justify their valuation as a regular lending business

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