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CRED FINTECH REPORT
Scoop: Ex-Peak XV trio launches Mettle Capital, targets $350–400 million fund to back Indian startupsThree former Peak XV Partners, Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma, have launched Mettle Capital. The new venture capital fu...- Mutual funds buy new-age dip; Infy CEO interviewHappy Thursday! Mutual fund inflows into listed new-age companies rose due to valuation adjustments and FPI selloff. This and more in today...
- Kabeer Biswas’s concierge startup 'M' raises Rs 102 crore from Peak XV, Blume, CredKabeer Biswas, Dunzo cofounder, has launched a new AI concierge startup named M. The company secured Rs 102 crore in funding from Peak XV P...
- From swipe to strategy: Your credit card now decides what you buyConsumers now meticulously compare credit card offers before making purchases, turning transactions into value calculations. Credit cards a...
- Razorpay eyes IPO; Sarvam's $1.5 billion leapHappy Monday! Razorpay is planning an IPO at a lower valuation than its $7.5 billion peak. This and more in today's ETtech Morning Dispatch.
- Amazon's Now pivot; Anthropic's revenue surgeAmazon is shuttering its Fresh service in major cities to focus on its quick commerce platform. This and more in today's ETtech Top 5.
- Cred widens mutual fund app Kuvera’s ambit for bigger wealth management playCred has entered wealth management by upgrading Kuvera, acquired in 2024. It now offers a full suite of financial services. Kuvera’s new fe...
- Cred receives payment aggregator licence from RBIFintech startup Cred has received RBI authorisation to operate as a payment aggregator, allowing it to onboard merchants, collect payments,...
- CRED gets RBI nod to operate as payment aggregatorFintech firm CRED has secured final approval from the Reserve Bank of India to function as a payment aggregator. This new authorisation com...
- Cred FY25 revenue rises 16% to Rs 2,735 crore, losses narrowOperating losses narrowed 51% on-year to Rs 298 crore, while total losses declined 11.5% to Rs 1,457 crore during the year, the Bengaluru-b...
- Cred raises fresh funds from GIC, others; valuation cut by 45% to $3.5 billionThe fintech major was valued at $6.4 billion in 2022 during its last major fund infusion. The current fund infusion is in the form of prima...
- Scoop: Cred in talks to raise new funds as valuation slips by over 30% to $4 billionFintech startup Cred is in talks to raise $100–200 million at a reduced valuation of around $4 billion, down from $6.4 billion in 2022. Bac...
- Cred's head of risk Kunal Kashyap quits, set to join SliceKunal Kashyap moves from Cred to Slice, which merges with North East Small Finance Bank. Pending approvals from Competition Commission of I...
- Cred’s FY23 revenue more than triples, losses grow marginallyWhile the company’s revenues rose significantly, expenses shot up, too. In FY2023, the Bengaluru headquartered fintech reported total expen...
- Cred names financial services veteran B Sriram as independent directorSriram will provide guidance and counsel for the company’s long-term strategy, growth plans and execution roadmap.
- Kunal Shah’s inhouse NBFC ends first year with a small profitNewtap Finance is looking to set up a new management team and build partnerships with other fintechs.
- Cred acqui-hires YCombinator-backed fintech SpennyzFounded in 2019 by Shah and Gaurav Arora, Spenny was a micro-investment platform that nudged users to invest small amounts of money in mutu...
- Kunal Shah’s Newtap Technologies in talks to raise $50-70 million to push lending businessShah has discussed shoring up the funds from Cred’s existing investors including Sequoia Capital and Singapore’s sovereign fund GIC, which ...
- Cred valuation nearly doubles after $250-million fundingCred’s funding round, which was co-led by Tiger Global and Falcon Edge, saw two new investors Marshall Wace and Steadfast Venture Capital j...
- Falcon Edge, others in talks to back Cred at $2 billion valuationThe Bengaluru-based fintech firm is in talks to mop up around $200 million in a round which will see participation from new investors like ...
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