The fintech unicorn said it plans to raise $140 million in this round with GIC leading it, along with existing investors Sofina, Tiger Global, FalconEdge, and Dragoneer. The round will also have a secondary component, Cred said, without disclosing further details. As a part of the transaction, Cred has allotted 42,308 Series F compulsory convertible preference shares (CCPS) of face value of Rs 100 each at a premium of Rs 1,47,746 for consideration of Rs 617 crore ($79.25 million) in cash. The company will use the funds for expanding its business and for 'future growth' including meeting long-term and short-term funding requirements and general corporate purposes, according to the regulatory filings. News agency Entrackr reported the development first saying that the company has raised funds at a valuation between $6.2-6.5 billion. Cred, founded by serial entrepreneur Kunal Shah, started in 2018 for India's most credit-worthy individuals to pay their credit card bills and earn points.