Liquidity Events
Meta’s $400-M secondary investment in fintech co. Cred provides 20X return to angels; institutional
Meta has acquired shares worth nearly USD 400 million from existing shareholders of the Bengaluru-based fintech company Cred . This secondary transaction from Cred’s existing shareholders has delivered 7-20x returns to the fintech’s angel investors and 3-16x gains to its institutional backers. The secondary sale is part of a larger USD 900 million investment by Meta.Ribbit Capital offloaded shares worth about Rs 250 crore, while Peak XV Partners divested Rs 300-350 crore worth of shares. RTP Global sold shares worth Rs 100-120 crore, while Tiger Global exited with about Rs 105 crore. General Catalyst and Sofina each trimmed stake worth Rs 60-70 crore.
Ribbit Capital, Peak XV Partners, RTP Global first invested in Cred in Sep 2018. Following General Catalyst, Tiger global joined in Aug 2019, while Sofina invested in Jan 2021.For FY25, CRED had reported about INR 2385 Cr in Operating Income and about INR 1692 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
