The hotly debated fintech startup is focusing on monetization, with a rapidly growing loan book, but challenges old and new loom on the horizon.
CRED, serial entrepreneur Kunal Shah’s second fintech venture, has managed to raise $228 million in equity funding in a little over two and a half years. Including $30 million as seed capital six months before it launched in November 2018.
The startup, which allows users to pay their credit card bills using its app and earn rewards, focused almost entirely on building its user base of credit-card-using Indians with high credit scores. This is what defined the first 18 months or so of the service, to the point that “What is CRED’s business model?” became a running joke.
Starting in …
Arti is a former writer at The Morning Context. She previously worked with publications such as ET Prime, VCCircle, Firstpost and EETimes. Arti has keenly tracked the evolution of financial technology in India and written some of the defining pieces on the ecosystem as it birthed and matured. Even when not writing about it, she loves to dissect the revenue models, margins and regulations that are shaping the sector.
artisingh@mailtmc.com