Two entrepreneurs into their second innings share a bond that goes beyond business. Each wants what the other has.
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The Kunal Shah-helmed fintech needs both growth and profitability to raise capital. But the two goals are contradictory and CRED will soon have to decide between raising at a reduced valuation or delaying the fundraise.
The nearly two-decade-old investment platform will not make any angel or pre-seed investments anymore. Its closure tells the larger story of the state of angel investing in India.
The edtech startup’s four-year journey from ambitious disruptor to shutdown offers crucial lessons on innovation, market realities and the resilience of traditional higher education institutions.