Short Bio
CRED is a Bangalore-based fintech business in India. It is a credit card payment app that uses rewards that was established in 2018 by Kunal Shah. Additionally, Cred offers short-term credit lines and allows users to pay their rent on their homes. Cred has come under fire for being overpriced and lacking a reliable monetization plan.
Overview
Company Name: | Cred |
Also Know as: | Cred Financial Technologies Pvt. Ltd. |
Type: | Private |
Industry: | Fintech |
Founded: | 2018 |
Founders: | Kunal Shah |
Headquarters: | Bengaluru, Karnataka, India |
Area Served: | India |
Revenue: | Not publicly disclosed |
Net Income: | Not publicly disclosed |
Number of Employees | Approximately 400 |
Website: | https://www.cred.club/ |
History
An Indian entrepreneur and the previous creator of FreeCharge, Kunal Shah, created the financial business Cred in 2018. The business, which has its headquarters in Bengaluru, India, uses a digital platform to reward customers for making on-time credit card payments. It offers a number of features and advantages with the intention of improving and streamlining the user experience with credit cards.
Cred has grown significantly in popularity and attention in the Indian market since its launch. With a range of features like bill consolidation, spending tracking, credit score monitoring, and special rewards and offers, the company has concentrated on providing credit card users with a streamlined and rewarding experience.
Services
Users can manage and pay their credit card bills using Cred’s main function as a mobile application. By combining credit card invoices from several sources, the platform makes it simpler for consumers to keep track of and pay their debts. Users who pay their bills on time can also take advantage of Cred’s different incentives, which include cashback, discounts, and access to special prizes from partner brands.
The business also offers a number of value-added services, including tools for managing expenses, monitoring credit scores, and individualised financial advice. Cred seeks to encourage ethical credit card use and financial well-being with its user-friendly interface and cutting-edge capabilities.
Achievement
Since its debut, Cred has reached important milestones. The business has a sizable customer base in India and has won praise for its cutting-edge approach to credit card handling. Users have responded favourably to Cred’s emphasis on rewarding good credit behaviour, which has resulted in high levels of customer loyalty and satisfying user experiences.
Additionally, the business has worked with a number of well-known businesses to provide its consumers with exclusive rewards and benefits. These alliances have improved Cred’s value proposition and given users more incentives to interact with the site.