Scribd Logo
Upload

Welcome to Scribd!

  • 102 views

    Jss Science and Technology University: Sri Jayachamarajendra College of Engineering, Mysuru

    Uploaded by

    Manish Gangadkar
    Cred is a Bangalore-based fintech startup founded in 2018 by Kunal Shah that offers rewards for credit card bill payments made through its app. It has grown steadily, reaching a valuation of over $2 billion and controlling 22% of credit card payments in India. Cred's business model involves partnerships with businesses to offer deals to users who pay credit card bills via the app. It has also launched a peer-to-peer lending feature called Cred Mint. Cred competes with digital payment apps from Paytm, PhonePe, MobiKwik and others.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Jss Science and Technology University: Sri Jayachamarajendra College of Engineering, Mysuru

    Uploaded by

    Manish Gangadkar
    102 views11 pages
    Cred is a Bangalore-based fintech startup founded in 2018 by Kunal Shah that offers rewards for credit card bill payments made through its app. It has grown steadily, reaching a valuation of over $2 billion and controlling 22% of credit card payments in India. Cred's business model involves partnerships with businesses to offer deals to users who pay credit card bills via the app. It has also launched a peer-to-peer lending feature called Cred Mint. Cred competes with digital payment apps from Paytm, PhonePe, MobiKwik and others.

    Original Title

    Cred

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Cred is a Bangalore-based fintech startup founded in 2018 by Kunal Shah that offers rewards for credit card bill payments made through its app. It has grown steadily, reaching a valuation of over $2 billion and controlling 22% of credit card payments in India. Cred's business model involves partnerships with businesses to offer deals to users who pay credit card bills via the app. It has also launched a peer-to-peer lending feature called Cred Mint. Cred competes with digital payment apps from Paytm, PhonePe, MobiKwik and others.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    102 views11 pages

    Jss Science and Technology University: Sri Jayachamarajendra College of Engineering, Mysuru

    Uploaded by

    Manish Gangadkar
    Cred is a Bangalore-based fintech startup founded in 2018 by Kunal Shah that offers rewards for credit card bill payments made through its app. It has grown steadily, reaching a valuation of over $2 billion and controlling 22% of credit card payments in India. Cred's business model involves partnerships with businesses to offer deals to users who pay credit card bills via the app. It has also launched a peer-to-peer lending feature called Cred Mint. Cred competes with digital payment apps from Paytm, PhonePe, MobiKwik and others.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    JSS SCIENCE AND TECHNOLOGY UNIVERSITY

    SRI JAYACHAMARAJENDRA COLLEGE OF ENGINEERING, MYSURU

    INNOVATION STUDIES(20HU220)-EVENT III

    “A CASE STUDY ON CRED APPLICATION”


    SUBMITTED BY:

    SHASHIDHARA H P (O1JST20ME069)
    SRIHARSHA S (01JST20ME073)
    HRISHIKESH ACHARYA K (01JST20ME027)
    RUDRESH KRUTHARTH M (01JST20ME062)
    CRED (CONTROLLED RAPID EVOLUTIONARY DELIVERY)
    CRED - COMPANY HIGHLIGHTS

    Startup Name Cred


    Headquarters Bengaluru, Karnataka, India
    Sector Financial Services
    Founder Kunal Shah
    Founded 2018
    Website cred.club
    CRED - ABOUT

     Cred is a Bangalore-based startup. It offers rewards to the consumers who use the platform for paying
    their credit card bills. The company protects the data and the information of the users very safely.
    Hence, the app is completely safe and secure.
     Cred is an app that works like a credit card payments solution and which helps its users get amazing
    offers and benefits in return. The users only need to register on the app to enable them to pay their
    credit card bills and lend money online via the Cred Mint, which the app introduced on August 20, 2021.
    CRED – START UP STORY

     The goal was very simple. It was to create a platform where life could be made better and systematic.
    The founder wanted to offer more privileges and benefits for the people having good credit scores. And
    therefore, creating a flywheel effect for more people was important to improve the scores. Everybody,
    starting from the startups to the government, has focused on the masses. The founder of the company
    wanted to focus specifically on the people, the responsible citizens who pay taxes timely. He felt that
    nobody had solved their problems earlier. Therefore, Cred was founded primarily to solve the problems
    of the taxpayers and reward them with attractive rewards in return.
    CRED - BUSINESS MODEL

     The business model of the company consists of four parts :


    • The Cred app - The Cred app is a neat-looking, beautifully designed app, which the users can visit if they want to go
    through the offers that are available after they pay their credit card bills. They can easily sign up on the app and view
    all the offers that they can avail.
    • Businesses that provide offers on the app - The users of Cred can also find a wide range of offers from numerous
    businesses. For this, CRED brings businesses onboard and collaborates with them. Along with benefitting CRED and
    its customers, who can avail of the exclusive offers provided by the businesses, it is also a win-win situation for the
    businesses. This is because they are also hugely benefited from the visibility they get.
    • Users who pay their credit card bills - CRED also serves as a smooth and rewarding platform for the users who use it
    to pay their credit card bills. In comparison to banking or other apps, the end-users can choose CRED as an app to pay
    their credit card bills and get numerous offers and benefits. On the other hand, the users who like the app also share
    CRED with their family and friends.
    • Cred Mint - Cred disclosed its new feature, Cred Mint on August 20, 2021, which is designed as a peer-to-peer lending
    platform help that will help Cred users lend their idle money to creditworthy members. It is a rather transparent
    process that only allows the trustworthy Cred members boasting of a minimal credit score of 750 or higher to be the
    borrowers. Furthermore, the lenders can also withdraw their money whenever they want with the interest that they
    have accumulated for the period.
    CRED - GROWTH

     Cred has shown a steady growth throughout the years. Being a startup that was founded in 2018, it
    successfully joined the unicorn club on April 6, 2021, closing its Series D round where the company had
    mopped up $215 million. CRED controls "22% of all credit card payments in India on a monthly basis,”
    said Kunal Shah in his statement released in April 2021.
     Kunal Shah further took to his Linkedin profile on July 10, 2021, and shared highlights of the milestones
    reached by CRED in the month of June:
     Cred introduced Cred Mint on August 20, 2021, which will serve as a peer-to-
    peer lending feature that can be used by the customers of CRED. Cred Mint
    has been launched by Cred in collaboration with RBI-approved P2P Non-
    Banking Financial Company (NBFC), Liquiloans. With this feature, the Cred
    members can now lend money to the trustworthy members of Cred based
    on the predefined interest rates. Cred Mint can be used to lend another
    creditworthy user to help them earn around 9% per credit. However, it is also
    declared that Cred Mind will only be available for users with decent credit
    scores.
    CRED - COMPETITORS

     The top competitors of the company are Paytm, PhonePe and MobiKwik.


    • Paytm is the top competitor of Cred. It is a fintech app and payments platform that is headquartered in
    Noida, Uttar Pradesh, India, and was founded in 2010.
    • PhonePe is another notable competitor of Cred. It is also a digital payment and financial services
    platform headquartered in Bangalore, India, which was founded in 2015. This app has the largest market
    share of 46.04%, as of July 2021.
    • MobiKwik is yet another fintech company, which supports digital payment options and is a rival of Cred
    at the same time. It is headquartered at Gurugram, Haryana, India, and was founded in 2009.
     The other competitors of Cred include digital payment applications and fintech companies like Google
    Pay, Amazon Pay, and more.
    CRED APP FEATURES:

    1. Free Credit Score Check: Track Credit Score or Access your credit profile
    2. Credit Card Bill Payment: Pay credit card bill on the go!
    3. Credit Card Manager: Stay connected with your credit information
    4. Payment Reminders: Credit card bill payment reminders so you never miss your due date
    5. Payment Reminders: Credit card bill payment reminders so you never miss your due date
    6. Payment Reminders: Credit card bill payment reminders so you never miss your due date
    7. Hidden charges: Automatically detect hidden charges & get alerted on duplicate transactions in your credit card account
    8. Rewards: credit card offers & win rewards using the CRED Coins
    9. Multiple Credit Cards: Seamless payments for all your credit cards
    10. Pay Rent with Credit Card: Make rent payments in no time
    11. Spend Analysis: Complete track of where you spent from your credit card with easy-to-read spend analysis charts

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy