New Delhi, June 22 -- US Technology giant Meta has held talks with fintech startup Cred on a possible investment, while electric vehicle maker Zypp is eyeing a fundraise, two separate media reports showed.
Meanwhile, Nuvama Wealth's private-equity backer is exploring the sale of its majority stake in the company.
Meta, Cred
Meta has held discussions to invest in Cred in a deal that values the Indian fintech and payments startup at $4 billion (around Rs 37,807 crore), according to a Moneycontrol report, which said the Facebook parent held discussions over the past weeks.
The proposed valuation is modestly above the company's marked-down $3.5 billion valuation in 2025, but remains significantly below the $6.4 billion it commanded during its last major funding round in 2022.
Meta has also evaluated other options including a full acquisition of the company at a lower valuation and bringing founder Kunal Shah into the organisation in an operating role, MoneyControl said, citing sources. MoneyControl noted that Cred needs fresh capital and Meta has expressed a willingness to back the company, however, it remains unclear which path Meta will ultimately pursue.
Nuvama Wealth Management
Asia-focused private equity firm PAG is evaluating a relaunch of the sale of its majority stake in Nuvama Wealth Management, according to a separate MoneyControl report, citing people familiar with the matter.
PAG invested in Nuvama (formerly known as Edelweiss Wealth Management) more than five years ago and is now weighing an exit again after an attempt last year didn't result in a sale due to a valuation mismatch with PE suitors and other factors. PAG invested around $325 million for a controlling stake in Nuvama in March 2021.
The process may involve both private equity firms and strategics, and the formal sale process will kickstart by the end of July or early August if PAG decides to move ahead.
PAG also has other options, such as exploring an exit in tranches through multiple block deals, if required, the report noted.
Zypp Electric
EV logistics startup Zypp Electric is looking to raise $40-50 million (around Rs 378-473 crore) in a pre-IPO funding round, aiming to nearly double its valuation, according to a Mint report citing people familiar with the matter. The startup aims to close the funding round over the next two to three months.
The Gurugram-based company was last valued at around $331 million as of March 2025. The company is reportedly looking to list on stock exchanges in the coming two to three years.
A Mint report noted Zypp's business has almost doubled since the last funding round in December 2024 and has established a market-ready business model. It has raised $76.5 million to date from investors such as Goodyear Ventures, Venture Catalysts, Indian Angel Network Fund, We Founder Circle, 100Unicorns, and IVY Growth Associates.
Published by HT Digital Content Services with permission from VC Circle.