CRED
No. 769 and 770, 100 Feet Road, 12th Main, HAL 2nd Stage, Indiranagar, Bengaluru, Karnataka, 560038, India
Overview
CRED is a members-only credit card management and bill payments platform that rewards users every time they pay their credit card bills. The fintech startup operates an app that rewards customers for paying their credit card bills on time and gives them access to a range of additional services such as credit and a premium catalog of products from high-end brands. Customers are offered a range of features which include the ability to better track spending across various credit cards, and get reminders. Cred is backed by investors such as Falcon Edge Capital, Coatue Management, Insight Partners, DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, and Sofina. It was established in Bengaluru, Karnataka by Kunal Shah in 2017.
- Total investments
- 2
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 9
Sector focus
- Credit Cards
- Financial Services
- FinTech
- Information Technology
- Payments
Investment portfolio
- Crib
Participated · Seed · Jun 2023
Founded in 2022 by Sunny Garg, Shaifali Jain and Archit Chauhan, Crib offers a solution-based SaaS platform that digitises and streamlines all aspects of property management for landlords. The product acts as a comprehensive operating system where owners can track rent collection, maintenance and tenant interactions, and where renters can browse, choose and book properties. Within twelve months of launch, Crib has established a presence in more than ten Indian cities, including Bangalore, Hyderabad, Pune, Chennai, Ahmedabad and Delhi-NCR. The platform is already used by 500+ landlords who collectively oversee about 100,000 rental units and process annual rental revenues of roughly Rs 900 crores through the system. The company positions itself as the "digital infrastructure" for the next generation of property owners and aims to add new products and services for landlords, renters, service providers and financing partners. Proceeds from its recent seed financing will be allocated to accelerating growth and reinforcing its market position.
- LiquiLoans
Led · Equity · Sep 2022
LiquiLoans operates a peer-to-peer (P2P) lending platform and has partnered with CRED to power lending features such as CRED Mint. CRED Mint allows CRED customers to lend to one another at interest rates of up to 9% annually. LiquiLoans said it runs a profitable business and aims to build a trusted and credible P2P lending platform. The company expects the investment to help strengthen its technology capabilities and participate in the ecosystem of trust that CRED enables. Its leadership says the long-term relationship with CRED and the investment will accelerate goals of creating efficiencies for seamless borrowing and investments. The article also notes that while P2P lending has made inroads in India, some startups in the sector are beginning to struggle to maintain the service. Liquiloans operates a P2P digital lending platform focused on originating loans to prime borrowers. The startup was founded in April last year by Achal Mittal and Gautam Adukia and currently has a team of 25. It will use the Rs12 crore proceeds to establish itself as a trusted brand and build credibility in the P2P lending market. Liquiloans plans to keep its focus on extending loans to prime members only and to offer consistent returns to lenders rather than promising high interest rates. The company is also hoping for removal of regulatory limitations—such as caps on amounts that can be lent and borrowed—to expand its business further. Founders have prior experience as founding members of Rentomojo.