CRED Raises $80 Million In Series F Funding The company also claimed that it has plans to raise $140 million in this round and will have secondary component

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

CRED, a credit card payment platform, has raised $80 million in Series F funding round led by Singapore's sovereign wealth fund, GIC. The funding round also witnessed participation from existing investors such as Tiger Global, Sofina Ventures, Alpha Wave Ventures and DF International. As per the regulatory filings with the ministry of corporate affairs, CRED may raise more funds as a part of its Series F funding round. The company claimed to utilize the fund for expanding its business and for the future growth including meeting long-term and short-term funding requirements and general corporate purpose.

"The Series F funding round will value the company at around $6.4 billion. We also plan to raise $140 million in this round with GIC leading along with the existing investors. The round will also have a secondary component," CRED said in a statement.

As per reports, on Thursday, CRED on-boarded the Bharat BillPay, a national payments corporation of India subsidiary, as a key agent institution for providing easy bill payments solutions to CRED members. With this collaboration, CRED users will be able to make recurring bill payments like electricity, telecom, DTH, gas, education fee, water and municipal taxes conveniently.

Founded in 2018 by Kunal Shah, CRED is members-only credit card management and bill payments platform that rewards users every time they pay their credit card bills. The fintech startup operates an app that rewards customers for paying their credit card bills on time and gives them access to a range of additional services such as credit and a premium catalog of products from high-end brands. The company has expanded its offerings to lending services along with the partnership of IDFC bank and various non-banking financial corporations.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

FinTech's Union Budget 2025-26 Wishlist: MSMEs, Rural Communities, and Salaried Workers

Previously, the Union Budget 2024-25 focused on employment, skilling, MSMEs, and the middle class

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

Growing a Business

5 Risk-Taking Lessons From Founders Who Bet Big and Won

Discover the bold moves and strategic risks that catapulted these entrepreneurs to success. Learn how their fearless decisions can inspire your own path to growth.

Growing a Business

How to Build a Solid Go-to-Market Strategy for 2025

Here's your playbook for creating a GTM strategy that works in 2025.