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CRED Attracts $72 Million Investment Led by Lathe and QED

जून 10, 2025जून 10, 2025 by educatekaroin News, Business, Fintech, TechLeave a Comment

Fintech unicorn CRED raised $72 million from investors like GIC’s Lathe Investment ($41M), RTP Global ($8.75M), Sofina Ventures ($3M), and Kunal Shah’s QED Innovation Labs ($19M). Valued at $3.64 billion, down 43% from $6.4 billion, CRED aims for FY26 profitability despite a 22% higher FY24 net loss of Rs 1,644 crore, with revenue up 66% to Rs 2,473 crore.

Fintech Founder Faces Fraud Charges After ‘AI’ Shopping App Revealed to Rely on Human Labor in the Philippines

अप्रैल 11, 2025अप्रैल 11, 2025 by educatekaroin News, AI, FintechLeave a Comment

Albert Saniger, ex-CEO of AI shopping app Nate, was charged with defrauding investors by falsely claiming its tech enabled fully automated online purchases. In reality, humans in a Philippine call center did the work. Nate raised over $50M before collapsing in 2023, leaving investors with major losses. Similar cases of exaggerated AI claims have surfaced recently.

Ramp’s Revenue Soars to $700M, Valuation Hits $13B

मार्च 4, 2025मार्च 4, 2025 by educatekaroin News, Business, FintechLeave a Comment

Fintech star Ramp has rocketed past $700 million in annualized revenue by January 2025, doubling from $300 million in under 18 months. With AI slashing costs and a $150 million secondary sale, its valuation jumped to $13 billion. CEO Eric Glyman says profitability’s a choice—they’re all in on growth!