CRED Series H Funding Led by Meta

CRED announced a Series H financing of INR 8,550 crore (approximately USD 900 million), structured through a mix of primary and secondary share purchases and led by Meta. Under the terms of the transaction, Meta will become a minority shareholder and will not obtain access to CRED’s customer data.

The funding places CRED at a post‑money valuation of INR 43,239 crore (about USD 4.5 billion) and a pre‑money valuation of INR 38,819 crore (about USD 4.03 billion). The capital is intended to accelerate growth, strengthen institutional capabilities, and support expansion across the company’s product categories.

CRED’s platform currently engages 1.7 crore (17 million) members each month and processes more than 40 % of all credit‑card bill payments in India, a category the company created eight years ago. Its lending arm manages INR 24,000 crore (over USD 2.5 billion) in assets under management for leading Indian financial institutions. The company reports revenue of roughly INR 3,200 crore (approximately USD 325 million) and is profitable, with a full stack of licences and a strong brand presence.

Founder Kunal Shah will step down from his operating role as CEO while retaining his personal shareholding. He will transition to Meta’s global leadership team. Miten Sampat, who has overseen strategy and finance at CRED since 2020, has been appointed interim CEO effective immediately. The board and senior leadership are working on establishing a leadership structure aimed at an eventual initial public offering.

In a statement, Kunal Shah said the company has built a new category rewarding creditworthiness, achieving millions of members, significant revenue and profitability, and that the new capital and talent will help CRED become a lasting institution. Interim CEO Miten Sampat highlighted the trust of 1.7 crore credit‑worthy Indians in CRED and expressed confidence in building on the founder’s vision toward a public company. Shailendra Singh, Managing Director of PeakXV Partners, praised CRED’s journey since the 2018 seed round, noting its strong economic engine and the company’s potential to strengthen its product, platform, and distribution moats.

About CRED

CRED is described as India’s most rewarding fintech platform, serving affluent, credit‑worthy consumers who use the app to manage credit‑card payments, track credit scores, and access curated shopping, travel, and premium experiences. Membership is limited to individuals with high credit scores.

About Meta

Meta is a global technology company focused on building the future of human connection through artificial intelligence and immersive technologies, operating platforms such as Facebook, Messenger, Instagram, and WhatsApp.

Media Contact

Surbhi Jain, CRED, surbhi.jain@cred.club.