Growth Profile of an Indian Startup- CRED

CRED is an Indian Fintech Company which offers rewards to customers who use its platform to pay their bills of credit card.

CRED is a Bengaluru Based startup found by Kunal Shah who also happens to be the CEO of the Company. Kunal is an Indian Entrepreneur who has been recognized for launching new ventures for the second time. Kunal graduated in Philosophy from Wilson College and later pursued MBA from Narsee Monjee Institute of Management Studies, but he had to drop in the middle to pursue his dreams as an Entrepreneur. Kunal started his entrepreneurial journey with PaisaBack, a website for cashback, coupons, and other offers for the users along with Sandeep Tandon. However, They had to shut down its operations in order to find FreeCharge in 2010. FreeCharge was acquired by Snapdeal in April 2015 but the company still continued as an independent entity led by Shah. He left the firm the next year and eventually founded Cred in 2018, which has successfully turned into an unicorn on April 6, 2021.


The plan of action of the organization comprises of four sections :

•   The Cred application

The Cred application is a flawless looking, wonderfully planned application, which the clients can visit assuming they need to go through the offers that are accessible after they cover their charge card bills. They can without much of a stretch sign up on the application and view every one of the offers that they can profit.

Businesses that give offers on the application

The clients of Cred can likewise track down a wide scope of offers from various organizations. For this, CRED carries organizations locally available and works together with them. Alongside helping CRED and its clients, who can benefit of the restrictive offers given by the organizations, it is likewise a mutually beneficial arrangement for the organizations. This is on the grounds that they are likewise immensely profited from the perceivability they get.

• Users who take care of their Mastercard bills –

CRED additionally fills in as a smooth and remunerating stage for the clients who use it to take care of their Visa bills. In contrast with banking or other applications, the end-clients can pick CRED as an application to take care of their charge card bills and get various offers and advantages. Then again, the clients who like the application likewise share CRED with their loved ones.

Cred Mint

Cred uncovered its new element, Cred Mint on August 20, 2021, which is planned as a distributed loaning stage assist that with willing assistance Cred clients loan their inactive cash to trustworthy individuals. It is a somewhat straightforward interaction that just permits the dependable Cred individuals bragging an insignificant FICO rating of 750 or higher to be the borrowers. Besides, the banks can likewise pull out their cash at whatever point they need with the premium that they have aggregated for the period.


Cred has shown a consistent development consistently. Being a startup that was established in 2018, it effectively joined the unicorn club on April 6, 2021, shutting its Series D round where the organization had wiped up $215 million. CRED controls “22% of all charge card installments in India consistently,” said Kunal Shah in his assertion delivered in April 2021.

Kunal Shah further took to his Linkedin profile on July 10, 2021, and shared features of the achievements came to by CRED in the long stretch of June:

Cred presented Cred Mint on August 20, 2021, which will fill in as a distributed loaning highlight that can be utilized by the clients of CRED. Cred Mint has been dispatched by Cred in a joint effort with RBI-supported P2P Non-Banking Financial Company.

With this component, the Cred individuals would now be able to loan cash to the reliable individuals from Cred dependent on the predefined financing costs. Cred Mint can be utilized to loan one more reliable client to assist them with acquiring around 9% per credit. In any case, it is likewise announced that Cred Mint may be accessible for clients with nice FICO assessments.


Cred is one of the best examples of this how a brand born in India of an idea to provide users to make credit card payments through its app for which they get rewarded. Others have also been able to provide value to other countries, This is the power of globalization and this was achieved because of an entrepreneur who had a vision in his mind.