Overview
CRED is a prominent financial technology company based in India that is reshaping the credit card industry and transforming how people manage their creditworthiness. Since its launch in 2018, CRED has rapidly gained popularity as a leading platform for credit card bill payments, rewards management, and financial literacy.
Cred – Company Highlights (Wiki)
| Startup Name | Cred |
|---|---|
| Headquarters | Bengaluru, Karnataka, India |
| Sector | Financial Services |
| Founder | Kunal Shah |
| Founded | 2018 |
| Valuation | $6.5 billion (June 2022) |
| Revenue | $11.55 million (Rs 88.6 crore in FY21) |
| Total Funding | $1+ billion (June 2022) |
| Website | www.cred.club |
Founder
CRED was founded by Kunal Shah, an experienced entrepreneur and visionary. With a mission to simplify and enhance the credit experience for individuals, Shah created CRED to revolutionize the way credit card users manage their financial obligations and leverage the benefits of credit cards.
Streamlined Credit Card Management
CRED provides users with a seamless and secure platform to manage their credit cards efficiently. By consolidating all credit card accounts in one place, CRED simplifies the bill payment process, ensuring timely payments and helping users avoid late fees and interest charges. The platform also offers intelligent reminders and alerts, empowering users to stay on top of their credit card obligations effortlessly.
Rewards Program: CRED Coins
One of the standout features of CRED is its innovative rewards program. Users who make credit card bill payments through CRED earn CRED Coins—a digital currency that can be redeemed for a range of exciting rewards. These rewards include discounts on partner brands, exclusive access to premium products, and even cashback. By turning credit card bill payments into a rewarding experience, CRED incentivizes users to manage their credit responsibly and maximize the benefits of their credit cards.
Financial Literacy and Empowerment
CRED is committed to fostering financial literacy and responsible credit behavior among its users. The platform provides personalized insights and recommendations, empowering individuals to make informed financial decisions. Through its educational content, CRED helps users understand credit scores, improve their financial health, and navigate the world of credit cards with confidence.
Bagged Awards
CRED, the prominent financial technology company based in India, has garnered several awards and recognitions for its innovative approach to credit card management, rewards program, and contributions to the fintech industry.
Economic Times Startup Awards
CRED was honored with the “Startup of the Year” award in 2020 at the prestigious Economic Times Startup Awards. This recognition highlighted CRED’s rapid growth, disruptive impact, and transformative approach to credit card management.
Google Play Best Apps of 2020
CRED was selected as one of the “Best Apps of 2020” by Google Play. This recognition showcased CRED’s user-friendly interface, seamless credit card bill payment process, and its ability to simplify financial management for users.
FinovateAsia Best of Show
CRED was awarded the “Best of Show” at FinovateAsia, a leading fintech conference, in recognition of its innovative solutions and cutting-edge technology in the credit card management space.
ET NOW Leaders of Tomorrow
CRED was featured as a prominent fintech startup on ET NOW’s “Leaders of Tomorrow” program, which showcases high-potential companies and their impact on the business landscape.
Indian Digital Media Awards
CRED received the “Best Use of Native Advertising” award at the Indian Digital Media Awards for its creative and effective use of native advertising to engage and educate users about credit card management and financial literacy.
Expanding Wings
CRED’s success has been accompanied by rapid growth and expansion. The platform has garnered millions of users who have embraced the simplified credit card management, attractive rewards program, and educational resources offered by CRED. The company has also forged partnerships with leading brands, enhancing its rewards ecosystem and providing users with a wide range of options to redeem their CRED Coins. This growth trajectory has solidified CRED’s position as a dominant player in the Indian fintech space.
KEY POINTS
- CRED was founded in 2018 by Kunal Shah.
- Gained widespread popularity among credit card users
- Streamlined Bill Payments
- Fintech Industry
- Timely Payments and Avoidance of Fees
- Innovative Rewards Program
- Engaging and Incentivizing Users
- Partnerships with Leading Brands
