Imagine getting rewarded just for paying your credit card bills. Sounds fascinating, right? Well, that’s exactly the idea behind CRED, and it’s completely transformed how India’s wealthiest handle their money.
Founded in 2018 by entrepreneur Kunal Shah, CRED was born with a simple yet powerful vision: to reward people for being financially responsible. But there’s a twist — not everyone can join. Only individuals with a credit score of 750 or above are eligible. This exclusivity made CRED feel less like just another fintech app and more like a private, premium club.
Once inside, members step into a different world. Every bill payment earns CRED Coins, which can be redeemed for luxury rewards, travel discounts, exclusive gadgets, and more. Over time, CRED evolved far beyond bill payments. It introduced features like CRED Mint (a peer-to-peer lending platform), RentPay (allowing users to pay rent using their credit cards), and the curated CRED Store for premium shopping experiences.
Today, CRED boasts more than 16 million members and processes over 35% of all credit card payments in India — a staggering achievement.
But what truly set CRED apart?
The answer lies in its marketing strategy.
Who can forget the viral ad featuring a furious Rahul Dravid stuck in Bangalore traffic, shouting “Indiranagar ka Gunda hoon main!”? Or the hilarious campaigns starring Kapil Dev and Neeraj Chopra?
CRED wasn’t just selling an app — it was selling a vibe: exclusive, witty, and irresistibly cool.
Behind the scenes, CRED’s numbers tell an even more impressive story:
- Valuation Growth:
CRED’s valuation skyrocketed to approximately $6.4 billion within just a few years of launch. - Revenue Surge:
In FY23, CRED’s revenue crossed ₹1,400 crore (~$170 million). - Explosive Growth Rate:
The company recorded a revenue growth of over 300% compared to the previous year.
Yet, Kunal Shah isn’t stopping there.
CRED is quietly building a full financial ecosystem based on trust. Beyond rewards and bill payments, it’s moving into wealth management, loan services, and even vehicle care through CRED Garage.
The goal? To become your ultimate app for everything related to money.
The Bottom Line
CRED isn’t just about paying bills or earning cashback. It’s about being part of something special — a trusted circle where being financially responsible finally feels as rewarding as it should.
