CRED Business Success Story

 Consider the days when buying anything was done on the basis of a barter system, in which for every commodity or service obtained, another good or service of equal value had to be swapped.

We all like to spend money, and we especially like to do so with credit cards! The capacity to make credit card payments fast and simply is one of the most crucial aspects we seek in these cards. When we have a collection of credit cards from many banks, each with its unique billing period, this becomes even more challenging. .Imagine an app that collects all of this information, sends you reminders to make timely payments, and even rewards you for doing so. This is where CRED comes into play.


CRED, which was founded in 2018, is a members-only app that provides its customers with exclusive prizes for paying their credit card bills.

The platform was created with the goal of making credit card bill payments easier for consumers and rewarding them for making timely payments. The program works in a straightforward manner. It asks for their phone number in order to check their credit score with Cibil, CRIF, and Experian.


“For too long, start-ups and governments have focussed on the masses, We want to focus on the others, the ones who pay the taxes. Nobody has been solving their problems.

                                                                              -Kunal Shah, founder of CRED.

Despite his lack of engineering background and a philosophy degree from Mumbai’s Wilson College, Kunal Shah launched CRED. He dropped out of the MBA program at Narsee Monjee Institute of Management Studies (NMIMS). He has served on the boards of Bennett Coleman & Co Limited, Y Combinator, and Sequoia Capital India, as well as the Internet and Mobile Association of India, where he served as Chairman from 2015 to 2017.

In August 2010, he shut down the network to co-found FreeCharge with Sandeep Tandon, which was subsequently acquired by Snapdeal in 2015, however, the platform continued to operate as a separate firm under his supervision. Axis Bank purchased the platform in July 2017 after he departed it in October 2016. In 2018, Kunal finally announced the formation of CRED.. He is also an active angel investor and has served as a mentor for a number of Asia’s most well-known firms, including Unacademy, RazorPay, Go-Jek, and Zilingo, among others. PaisaBack, Kunal’s first established firm, was a cashback and promotional tool for organized businesses.


Shah’s company has a market capitalization of $450 million after a $120 million funding round headed by current backers Ribbit Capital, Gemini Investments, a personal investment vehicle of Yuri Milner’s DST Global, and Sequoia Capital earlier this year.

“The top 1-2 percent of the population in India is highly fragmented, and Kunal is attempting to bring them together with some tailored experiences and services,” says Amrish Rau, former CEO of PayU India and an angel investor in Cred. “Cred has created a community with a high level of trust.

CRED’s platform has grown significantly as a result of its marketing strategy during the ongoing Indian Premier League (IPL) cricket season.

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