CRED, the fintech company led by Kunal Shah, is preparing to raise $75 million in a Series G funding round from existing investors, including Singapore's sovereign wealth fund GIC. This round is a down round, valuing CRED at approximately $3.5 billion, a 45% decline from its $6.5 billion valuation in 2022. Kunal Shah is reportedly investing $20 million of his own money into the round. The funding reflects a reassessment of CRED's market value amid broader shifts in the startup ecosystem. Separately, the Indian electric vehicle rental market is expanding, with companies like Bounce and MyByk focusing on EV rentals for gig economy workers, capitalizing on the growth of quick commerce deliveries. Yulu's 25 kmph electric vehicles now facilitate about one-third of quick commerce deliveries in India, serving clients such as Blinkit, Zomato, and Zepto. Additionally, Flipkart and Myntra have received fresh funding from their parent company to support aggressive growth strategies. Other notable developments include InCred executives raising Rs 475 crore, Unacademy founders stepping back as Airlearn pivots, and DhanHQ nearing a $200 million fundraise led by ChrysCap, Alpha Wave, and MUFG.