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CRED: India’s fintech sensation that shattered the unicorn ceiling! 🚀 From a simple idea to reward credit card users, CRED has transformed into a full-fledged lifestyle platform. By prioritizing user experience and offering exclusive perks, it captured the hearts (and wallets) of India’s affluent. Becoming India’s unicorn was just the beginning. CRED's relentless pursuit of innovation, coupled with strategic partnerships, has solidified its position as a dominant player in the fintech industry. What do you think sets CRED apart? Let's discuss! #CRED #Fintech #Unicorn #SuccessStory #StartupIndia #DigitalIndia #LifestylePlatform #Luxury #Innovation #Entrepreneur #Business #Marketing

From Idea to Unicorn: The Inspiring Journey of Kunal Shah and CRED Who does not know Kunal Shah! Kunal Shah is a revolutionary man who turned the table for everyone in the fintech industry. His journey has been fascinating because Kunal transformed a small idea into a billion-dollar startup. Kunal Shah's experience working with CRED indicates the value of having a clear goal, acting strategically, and never giving up. Entrepreneurs and inventors worldwide can find inspiration in his narrative. Let's honour Kunal's outstanding accomplishments and anticipate more groundbreaking CRED firsts! Visionary Beginnings Kunal Shah, a philosophy graduate and enthusiast for problem-solving in the real world, began his business career with FreeCharge. Following FreeCharge's successful sale, Kunal took a break and carefully examined the Indian credit card industry. Identified the Opportunity Kunal identified a need for more rewards for timely credit card payments. And this was the game changer. Kunal's insight led to the birth of CRED in 2018. The platform rewards users for paying their credit card bills on time. How did it become THE CRED? Focus on Trust and Exclusivity: 🔺CRED was introduced with a twist! By making CRED an invite-only platform, Kunal ensured that only creditworthy individuals could join, creating a sense of exclusivity. Rewards for User Experience: 🔺Sleek, user-friendly interface and engaging rewards system rapidly attracted a massive user base. Leveraging Data for personalised rewards: 🔺CRED uses advanced data analytics to understand user behaviour and offer customised rewards, enhancing user engagement. Scaling to Success 🔺Strategic Alliances: Strengthened value proposition and provide special discounts and benefits with strategic brand alliance. 🔺Innovative Marketing: Establishing brand awareness and legitimacy requires imaginative campaigns and celebrity endorsements. 🔺Fundraising Milestones: Kunal obtained capital from leading investors thanks to his strong company plan and clear vision. Strategy for Growth 🔺 Customer-Centric Approach: Emphasised user experience and customer pleasure. 🔺Increasing Offerings: Expanded with CRED RentPay and CRED Stash, have been added to meet various financial demands. 🔺Future Vision: Kunal's dedication to innovation guarantees that CRED will keep developing and providing more excellent value to its users. What aspect of Kunal Shah's journey with CRED inspires you the most, and how do you see fintech evolving in the next five years? Leave a comment Follow #filingbuddy for more such insights. #FilingBuddy #CRED #financialservices

From Data Entry to Fintech Visionary Kunal Shah, the founder of CRED and FreeCharge, didn’t have a typical entrepreneur’s journey. Born into a family that went bankrupt, he took on odd jobs like a delivery boy and data entry operator just to make ends meet. His passion for learning and resilience in the face of financial hardships are what set him apart. Kunal graduated with a degree in Philosophy from Wilson College, Mumbai – not out of interest, but because the class schedule allowed him to balance work and study. In an industry filled with IIT and IIM graduates, Kunal's unconventional background makes his success even more remarkable. In 2015, Shah sold his first major startup, FreeCharge, to Snapdeal, but his entrepreneurial fire didn’t stop there. He founded CRED, a fintech company that incentivizes users to pay their credit card bills on time, providing access to premium events and rewards. CRED has grown into a massive platform, handling one-third of India’s credit card bill payments by value. In FY24, CRED’s revenue surged 66% to Rs 2,473 crore, while operating losses were reduced by 41% to Rs 609 crore. Shah attributes this success to “operating leverage” – scaling revenue without proportionately increasing costs. With a user base growing organically by over 75%, CRED’s popularity continues to soar. But it wasn’t just the numbers that made Kunal Shah a visionary. His leadership style focuses on building meaningful products that foster responsible financial behaviour. His recent launch, CRED Money, aims to simplify personal finance for users. And with the acquisition of Kuvera, CRED is expanding into wealth tech, emphasizing reliable and long-term investments over speculative ones. Kunal Shah’s journey is proof that with grit, determination, and an innovative mindset, anyone can rise from humble beginnings to build something extraordinary. #KunalShah #CRED #InspiringJourney #FromDataEntryToCEO #TechVisionary #SuccessStory #CREDPay

Kunal Shah-led fintech unicorn CRED has launched CRED Money to address the challenges of fragmented finances faced by India's affluent population. The startup's new offering enables users to have a unified view of all their bank account balances, reminders for recurring payments beyond credit card transactions and a tool to analyse spending. CRED Money will also send users reminders and updates for recurring payments such as SIPs, EMIs, rent, staff salaries, or insurance premiums. Users can also look up for transactions by merchants or categories. It is built on the account aggregator (AA) framework that enables users to share their data with banks or financial institutions between authorised organisations. The startup said it won’t be monetizing the new feature. Read the full story here: 👇 https://lnkd.in/dDVnbZJY #cred #finance #money #management #wealth #fintech #unicorn #Indianstartupnews

Kunah Shah revealed that Cred is not in the race to become the next fintech super app⁉️ For Shah, “the benchmark is the likes of Apple and Mercedes”. In a surprising move, Kunal Shah's brainchild, CRED, took a divergent path from its peers in 2023. Rather than chasing the coveted title of the next fintech super app, CRED opted for a strategic approach that defied industry norms. Among its innovations was CRED Garage, a vehicle management platform that quickly gained traction, despite financial challenges. Financial Realities: CRED faced financial struggles, but Shah likened them to the growth pains experienced by industry giants like Apple, emphasizing the importance of innovation. Despite losses, Shah saw them as catalysts for fintech sector growth, highlighting their role in driving innovation. Excellence Endures: Despite being a loss making company for 5 years, CRED has remained steadfast in its commitment to excellence. What are your thoughts on the new tangent the company has diverged into? #cred #entrepreneurship #losses #founder

Bengaluru-based fintech unicorn CRED has launched CRED Money, a platform that offers a unified view of user’s balances, transactions, and patterns across bank accounts. 💸 The platform will send reminders and updates to users, as well as provide easy ways to act on recurring payments like SIPs, EMIs, rent, staff salaries, or insurance premiums, and offer to settle them directly with CRED UPI. The company will roll out CRED Money to its members in phases. Users can also analyse their spending patterns across bank accounts and search by merchant or category, enabling them to understand their financial behaviour. They can also easily track their transactions, including dividends on forgotten investments, payment reversals, tax refunds, etc. CRED's new offering uses advanced data science that turns data points into actionable insights, enabling users to plan and use their money more effectively. Read more at the link in our comments section below 🔗 by Akshita Toshniwal | #CRED #CREDMoney #KunalShah #Startups Kunal Shah

CRED, an Indian #fintech startup, has introduced #CREDMoney, a feature to help customers manage and gain insights into their cash flow, enhancing personal finance engagement: 1️⃣ CRED Money consolidates financial data from all bank accounts, allowing users to track transactions and recurring payments like #SIP investments, rent, and salaries on one dashboard. It also enables transaction searches by merchants or categories and provides reminders. 2️⃣ This feature leverages India's account aggregator framework by the Reserve Bank of India (RBI), which allows consumers to grant temporary, purpose-specific access to their financial data across multiple institutions through a standardized, encrypted channel. 3️⃣ CRED Money employs data science #algorithms to analyze high transaction volumes across multiple accounts, offering brief, actionable insights for spending patterns, investment opportunities, and financial optimization. 4️⃣ #CRED, valued at $6.4 billion, claims that nearly 70% of India's affluent population struggles with fragmented finances, averaging 200 transactions per month, which can lead to suboptimal decision-making and impact credit scores. 5️⃣ "More money, more problems," said CRED founder Kunal Shah, emphasizing the product's aim to improve affluent consumers' relationship with money and reduce financial anxiety through trusted insights. 6️⃣ CRED Money launches in phases starting Thursday and follows recent portfolio expansions, including acquiring Kuvera.in for mutual fund and stock investments. Read The Full Article Here: https://lnkd.in/gtmh3Ryi #EntrepreneurshipStudio #KunalShah

Kunal Shah's Journey: Building CRED into a Fintech Powerhouse I am thrilled to share the incredible success story of CRED, a Bengaluru-based fintech startup that has redefined credit card payments and user rewards under the visionary leadership of Kunal Shah. From humble beginnings to becoming a unicorn, CRED has exemplified innovation and disruption in the fintech space. Founded in 2018, CRED's unique platform not only facilitates on-time credit card bill payments but also rewards users with exclusive deals and benefits, fostering a community of financially responsible individuals. Here are some key highlights of CRED's journey: 1️⃣ Innovative Offerings: CRED's offerings such as CRED Mint, CRED Cash, Rent Pay, and CRED Store have revolutionized the way users manage their finances and access credit lines, further enhancing their experience. 2️⃣ Strategic Partnerships: Collaborations with leading brands like Razorpay, Gokwik, and Shopify have strengthened CRED's position in the market, providing users with seamless payment options and enhanced services. 3️⃣ Continuous Expansion: Through strategic acquisitions like Hipbar, Happay, smallcase, and Spenny, CRED has expanded its capabilities and offerings, catering to diverse consumer needs and preferences. 4️⃣ Financial Growth: Despite initial challenges, CRED has showcased remarkable financial growth, with operational revenue soaring from Rs 88.6 crore in FY21 to Rs 393.6 crore in FY22, reflecting its strong market presence and user engagement. 5️⃣ Innovative Features: CRED's introduction of features like Tap to Pay, BidBlast, Cred Escapes, and P2P Transactions has enhanced user engagement and provided a differentiated experience, setting new benchmarks in the industry. 6️⃣ Visionary Leadership: Kunal Shah's strategic vision and commitment to fostering trust and financial responsibility among users have been instrumental in CRED's success, making it a leading player in the fintech ecosystem. As CRED continues to innovate and grow, I am excited about the future prospects and impact it will create in shaping the future of digital payments and financial services. #CRED #Fintech #Innovation #Leadership #StartupSuccess #FinancialServices #DigitalPayments #UserExperience #VisionaryLeadership

🚀Meet the Visionary Behind CRED: Kunal Shah 🌟  Kunal Shah is a name that has become synonymous with innovation in India's fintech landscape. He revolutionized the way people pay credit card bills when he launched CRED in 2018, a platform that rewards users for making timely payments. This game-changing concept not only simplifies the payment process but also incentivizes responsible financial behavior. But this isn't Kunal's first major achievement. Prior to CRED, he founded FreeCharge, a digital payments platform that garnered immense popularity in India. FreeCharge was sold to Snapdeal for a staggering $400 million, setting the stage for Kunal’s next big venture. With CRED, he has created a startup valued at approximately $6 billion, making it one of the most successful fintech companies in India and a significant player on the global stage. Kunal's secret to success lies in his profound understanding of consumer behavior and his ability to create value. He focuses on empowering users and enhancing their financial journeys, which has made CRED a trusted name among millennials and Gen Z. As a visionary entrepreneur, Kunal Shah inspires millions to dream big and pursue their passions. His journey serves as a testament to the power of innovation and resilience in the ever-evolving world of technology. With an estimated net worth of over $1 billion, Kunal Shah has not only made a mark in the industry but also continues to pave the way for future entrepreneurs. The future of fintech is here—thanks to Kunal Shah and CRED! #kunalshah #cred #fintechrevolution #innovation #motivation #entrepreneurship #inspiringjourneys #dreambig #financialfreedom #creditcardrewards #startupsuccess #financialtechnology #disruptiveinnovation #billionairemindset #techentrepreneur #mediabuzzlisting #mblisting #mblistingofficial

CRED went from a fresh idea to a $6.4 billion powerhouse managing the bills of the creditworthy elites of India.   Here's the story of how it all happened so far:   Meet Kunal Shah. The 'Philosopher-Entrepreneur' of the Indian Startup Ecosystem (Tweets pado bhai ky kabi..)   After successfully selling FreeCharge to SnapDeal for $400 million, Kunal had more money than he knew what to do with.   So he became an investor (Anda paisa kama liya tha).   Along came an offer to be an advisor to Sequoia Capital (Apple sy Google tak submy invest kiya huva hai inhony)   Par jo maza entrepreneurship mai tha wo investor banny mai kaha…toh who mazza phir pane ky liye kud pade. [Translate: He was used to fighting in arenas all his life so couldn’t just watch the action from a distance]   Kunal Shah's deep understanding of consumer behavior and his journey with FreeCharge set the stage for CRED's inception. The insight? Why don’t we convert the mundane task of paying bills into a rewarding experience?   The incentive? A higher credit score leads to better rewards.   This was the 'CRED' appeal & the core of what CRED started with.   His reputation precedes him. He had the network, the experience, and the vision. And he had all the right trigger words for investors to start salivating: - Exclusivity, - High net worth community, - An app that will look like a diva and perform like a superhero Result: CRED got funded even before Kunal finished presenting his pitch deck to investors.   Head onto the article below to know: - How CRED disrupted the Indian fintech market - 3 Ways how it built on the initial business plan  - 3 psychological ideas that underpin CRED’s business model - Challenges ahead for CRED https://lnkd.in/g7tNPBSr #cred #billiondollarstories #businessstories