Credit card payments enabler CRED in talks to raise $250-M at over $5.5-B valuation

Credit card bills payments enabler CRED is in late-stage talks to raise funds from new and existing investors. Some new investors from the Middle East region along with internal investors are in late-stage talks to invest around USD 250 million in the firm. CRED is likely to be valued anywhere between USD 5.5 and 6 billion. CRED is in talks to acquire Times Internet-owned Dineout and debt investment platform WintWealth. CRED is a credit card payments app with a direct to the consumer (D2C) marketplace and P2P lending via CRED Mint. Backed by Falcon Edge, Tiger Global, DST Global, Insight Partners and Coatue among others, the Kunal Shah-led venture has raised USD 466 million in 2021 and USD 546 million since last December.