Business Money

Cred Success Story – How it Made Credit Card Payments Effective and Reward-Based?

Cred Success Story - How it Made Credit Card Payments Effective and Reward-Based?

CRED is a popular app in India, with over 10 million users.

The company has raised over $400 million in funding from investors such as Sequoia Capital, Tiger Global, and Ribbit Capital.

CRED is a fintech company that helps users manage their credit card bills and rewards. 

  • Company name: CRED
  • Industry: Fintech
  • Founders: Kunal Shah, Kunal Khattar, and Siddharth Shah
  • Headquarters: Bangalore, India
  • Founded: 2018
  • Website:

The company offers a variety of features, including:

  • Credit card bill payment: CRED allows users to pay their credit card bills on time and earn rewards for doing so.
  • Credit score tracking: CRED tracks users’ credit scores and provides them with insights into how to improve their scores.
  • Loan eligibility: CRED helps users determine their eligibility for loans and provides them with quotes from different lenders.
  • Discounts and offers: CRED offers users discounts and offers on a variety of products and services.

Cred – Company Highlights

  • 2018: CRED was founded by Kunal Shah, Kunal Khattar, and Siddharth Shah.
  • 2019: CRED raised $100 million in Series A funding.
  • 2020: CRED raised $200 million in Series B funding.
  • 2021: CRED raised $100 million in Series C funding.
  • 2022: CRED launched a credit card with Visa.
  • 2023: CRED is expected to become profitable.
HeadquartersBangalore, India
FoundersKunal Shah, Kunal Khattar, and Siddharth Shah
App launched2018
User base10 million+
Funding$400 million+
InvestorsSequoia Capital, Tiger Global, Ribbit Capital, Accel Partners, and others
Revenue$100 million+ (estimated)
ProfitabilityNot yet profitable
Future plansExpand into new markets, launch new products and services, and become a one-stop shop for all financial services

Cred – Startup Story

– Cred was founded in 2018 by Kunal Shah, who is also the founder of FreeCharge, another Indian fintech startup.

– The goal of Cred was to create a platform where life could be made better and more systematic.

– Cred allows its users to pay off all of their credit card bills in due time.

– The company has built a mobile app that makes it easy for users to track their credit score.

– Cred has onboarded over 5.9 million users and processed about 20% of all credit card bill payments.

– It is the second venture of FreeCharge co-founder Kunal Shah.

– Cred rewards individuals for paying their credit card bills on time through their app.

– The company has been successful in focusing on customer experience and providing benefits to credit card holders.

Cred – Tagline and Logo

The tagline of Cred is “Suraksha Aur Bharosa Dono,” which translates to “Both Safety and Trust.”

As for the logo, it features the word “Cred” in a stylized font.

Cred is an Indian fintech startup based in Bengaluru, Karnataka, founded by Kunal Shah in 2018.

It is a members-only app that allows users to earn rewards on their credit card bill payments.

Cred – Business Model

Cred’s business model:

Members-only platform: Cred operates as a members-only platform, which means that users need to meet certain eligibility criteria to join.

These criteria typically include having a minimum credit score and owning a credit card from a partner bank.

Credit card bill payments: Cred primarily focuses on credit card bill payments.

It allows users to link their credit cards to the platform and make payments directly through the app.

Cred aims to simplify the bill payment process and provide a seamless experience for its members.

Rewards and benefits: One of the main attractions of Cred is its rewards and benefits program.

Members earn Cred Coins for every credit card bill payment made through the platform.

These Cred Coins can be redeemed for various rewards, including discounts, cashback, and exclusive offers from partner brands.

Cred Protect: Cred also offers a feature called “Cred Protect” which provides users with credit line options.

It allows eligible members to access a credit line that can be used for emergencies or to pay off their credit card bills.

This feature is designed to provide financial flexibility and convenience to users.

Partnerships and collaborations: Cred has established partnerships with various banks, credit card companies, and brands.

These partnerships help Cred offer exclusive benefits and rewards to its members.

It also allows Cred to expand its user base and provide a wider range of services.

Data monetization: Cred leverages user data to provide personalized offers and recommendations.

While it takes data privacy seriously, it also explores opportunities for data monetization through anonymized and aggregated insights.

Cred – Revenue Model

DateTransaction NameMoney RaisedLead Investors
November 6, 2018Seed Round$30 millionSequoia Capital India
January 1, 2019Seed RoundRainmatter Technology
April 16, 2019Series A$24 million
July 26, 2019Series B$120 millionGemini Investments, Ribbit Capital and Sequoia Capital India
November 30, 2020Series C$81 millionDST Global
April 6, 2021Series D$215 millionCoatue, Falcon Edge Capital and others
October 19, 2021Series E$251 millionTiger GLobal and Falcon Edge
April 8, 2022Venture Round$200 millionGIC
June 9, 2022Series F$80 millionGIC, Sofina, Alpha Wave and DF International

– CRED’s revenue model is primarily driven by transaction fees and commissions earned through its rewards program.

– The company uses the creditworthiness of individuals, measured by their credit scores, to filter the community.

– CRED earns money by rewarding users for making their credit card bill payments through the online platform.

– The application uses AI (Artificial Intelligence) to provide personalized offers and recommendations to its users.

– CRED also generates revenue from businesses that pay listing fees to display their offers and products on the platform.

– In 2022, CRED reported a revenue of 3.93 billion INR (approximately $49 million USD).

Cred Finances Breakdown

Cred FinancialsFY21FY20
Operating RevenueRs 88.6 crRs 52 lakhs
Total ExpensesRs 619.43 crRs 379.25 cr
Profit/LossLoss of Rs 523.85 crLoss of Rs 361.11 cr
EBITDA Margin-538.3%-1966.2%

Cred – Partnerships

– Cred offers opportunities for brands to partner with them, allowing them to find the right opportunities for brand partnerships.
– GoKwik has partnered with Cred to drive higher conversions for D2C (Direct-to-Consumer) brands. Cred’s members can use their preferred payment options for transactions, providing a friction-less, fast, and secure checkout experience.
– Mastercard has partnered with Cred to enable high-value payments via credit cards. This partnership aims to provide Mastercard credit cardholders with enhanced payment options.
– Cred has established partnerships with various departments and institutes at Columbia University and other institutions through the Center for Research on Environmental Decisions (CRED).
– Cred plans to invest about $10 million in its lending partner, LiquiLoans, as part of its expansion in the financial sector.
– Cred is an exclusive community that offers travel partnerships through its CRED store in Bengaluru, India.


Cred’s journey from its inception to becoming a transformative force in the credit card industry showcases the power of innovative thinking and user-centric solutions.

By simplifying credit card payments, offering rewards, and fostering financial responsibility, Cred has not only made credit management efficient but also turned it into a gratifying experience.

As the financial technology landscape continues to evolve, Cred stands as an inspiring example of how startups can reshape conventional practices for the betterment of users and businesses alike.