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CRED Success Story

CRED Success Story



Cred is a forward-thinking fintech company known for its novel approach to credit card management and rewards. Cred, founded in 2018 by Kunal Shah, has quickly become the go-to platform for creditworthy individuals looking to maximize their credit card usage. The company provides a mobile app that not only simplifies the payment of credit card bills but also rewards users for their responsible financial behavior. Cred has a devoted user base and is changing the way people perceive and interact with credit cards thanks to its visually appealing and user-friendly interface.

Early history:

Cred is an Indian fintech company founded in 2018 by Kunal Shah, a serial entrepreneur and investor. The company is a reward-based credit card payment app that aims to make credit card users more responsible and financially savvy. Cred also provides a variety of features and services such as rent payment, cash advance, online payment, and peer-to-peer lending. Cred has grown rapidly in the Indian market, reaching a valuation of $2.2 billion in 2021.

Founding of Cred:

Kunal Shah founded Cred on April 6, 2018, after previously founding and selling FreeCharge, a mobile recharge platform, to Snapdeal for $400 million in 2015. Shah wished to establish a new company that would focus on the credit card users, a high-trust and high-value segment of the Indian consumer market. He believed that the existing financial system underserved and overcharged credit card users, and that there was an opportunity to create a platform that would reward them for paying their bills on time and managing their credit score. He also wanted to use his experience and network in the fintech industry to assemble a strong team and raise capital for his venture.

Development of Products:

Cred began as a simple app that allowed users to pay their credit card bills and earn rewards from various brands and merchants in the form of cashback, coupons, or discounts. The app also gave users information and advice on their credit card usage, spending habits, and credit score. Cred quickly expanded its product line to include additional features and services such as:
  • Cred RentPay:

  • A feature that allowed users to pay their rent with credit cards while earning rewards.
  • Cred Cash:

  • A service that offered users low-interest cash advances of up to Rs. 1 lakh.
  • Cred Pay:

  • A feature that allowed users to use their credit cards to make online payments on platforms such as Flipkart, Myntra, BigBasket, and others.
  • Cred Store:

  • A platform that provides users with exclusive access to curated products and experiences in a variety of categories such as travel, entertainment, wellness, and so on.
  • Cred Mint:

  • A service that allows users to lend their spare cash to other Cred members in exchange for interest.

Growth and Recognition:

Cred expanded rapidly in the Indian fintech market, attracting millions of customers and processing transactions worth billions of rupees. The company was also recognized and awarded for its innovation and excellence. Cred has achieved the following milestones and achievements:
  • Cred became the official partner of the Indian Premier League (IPL), India's most popular cricket tournament, for four years in 2019.
  • For the fiscal year 2019-20, Cred reported a revenue of Rs. 108 crore and a loss of Rs. 360 crore in 2020.
  • Cred raised $215 million in Series D funding in 2021, led by Coatue and Falcon Edge Capital, valuing the company at $2.2 billion.
  • In 2021, Cred launched a viral advertising campaign starring Bollywood celebrities such as Anil Kapoor, Madhuri Dixit, Bappi Lahiri, and others, which sparked a lot of discussion and controversy on social media.


  • Cred was founded by Kunal Shah, a serial entrepreneur known for his earlier venture, FreeCharge. His vision for Cred was to create a platform that rewards individuals for responsible credit card usage while simplifying the bill payment process.
  • Cred operates as an exclusive club, allowing only creditworthy individuals with a credit score above a certain threshold to join. This approach aims to maintain a community of financially responsible members.
  • The core function of Cred is to streamline credit card bill payments. Users can link their credit cards to the app, which provides a single platform for tracking and paying multiple credit card bills.
  • Cred incentivizes users with its unique reward system. Users earn Cred Coins when they make timely credit card payments, which can be redeemed for a variety of exclusive offers, discounts, and products from partner brands.
  • Cred has formed partnerships with numerous brands and businesses, allowing members to access special deals and discounts across a wide range of products and services.


To revolutionize the credit card experience by empowering individuals to make timely and responsible credit card payments while rewarding financial prudence. We aim to foster a community of financially savvy members who benefit from simplified bill payments and exclusive perks, ultimately leading to a healthier and more prosperous financial future for all.

Inspirational Message:

Cred shows us how to be successful by making new things, caring about customers, and working hard. Their story tells us that we can do better things even in old areas like money. Let Cred motivate you to not just do what others do, but to make your own way, solve problems, and make customers happy.

Don't forget, your next new idea could be the one that changes a whole business.


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