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CRED OPERATING LOSSES
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.- 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...
- India's neighbour-friendly FDI rules; LPG shortage hits food deliveryThe Centre has eased FDI rules, allowing investors from land-bordering countries such as China to invest in Indian companies. This and more...
- 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 announces a co-branded credit card with IndusInd Bank & RuPayThe GIC-backed platform also announced a portfolio of fixed deposits (starting with five banks and two NBFCs) and gold investments with phy...
- 'Too young for IPO', CRED to target premium segment growth, says CEO Kunal ShahFintech platform CRED is postponing its IPO, deeming itself "too young" and prioritizing building a robust financial ecosystem. CEO Kunal S...
- 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...
- InCred Finance acquires TruCap’s gold loans businessIn a stock exchange filing, TruCap stated that the total value of the deal will be approximately Rs 330 crore, subject to "certain adjustme...
- Cred’s FY24 revenue surges 66% to Rs 2,473 crore; overall losses up 22% to Rs 1,644 croreCred, a fintech unicorn, has generated revenue from payments, credit and insurance. The company reined in marketing expenses despite promot...
- 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 to buy Kuvera to enter wealth managementThe development marks the entry of Cred into the mutual funds market, placing it in competition with industry leaders such as Zerodha, ETMo...
- 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...
- Ex-Swiggy exec Anuj Rathi joins Jupiter as chief product and marketing officerAt Jupiter, Rathi will lead product, design, growth and marketing. He will work closely with Jupiter’s founder and CEO Jitendra Gupta.
- Cred lays off close to 15% of staff at expense management unit HappayThe exact number of employees affected by the layoffs could not be ascertained, but one of the sources told ET that 10-15% of the workforce...
- Paytm complains to NPCI on Cred’s UPI gamblePaytm, owned by One97 Communications Ltd, has been pushing to grow its offline acceptance network over the past few years and create its ow...
- Cred raises $80 million funding led by GIC at $6.4 billion valuation“GIC of Singapore leads this round, joining existing investors - Sofina, Tiger Global, FalconEdge, and Dragoneer - for an investment of $14...
- Cred reports Rs 95.5 crore revenue in FY 21, will apply for account aggregator licenceThe company reported a total loss of Rs 523.8 crore on a consolidated basis, compared to Rs 361.1 crore for the year-ago period.
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