Cred (company)

For other uses, see Cred (disambiguation).

Dreamplug Technologies Pvt. Ltd.
CRED
Company typePrivate
Industry
  • Financial technology
  • Payments
Founded2018; 6 years ago (2018)
FounderKunal Shah
(Founder & CEO)
HeadquartersBangalore, Karnataka,
India
RevenueIncrease ₹2,473 crore (US$300 million) (FY24)[1]
Negative increase ₹−1,347 crore (US$−160 million) (FY23)[1]
Number of employees
800
Websitecred.club

Dreamplug Technologies Pvt. Ltd. d/b/a CRED is an Indian fintech company, based in Bangalore.[2][3][4] Founded in 2018 by Kunal Shah,[5][6] it is a reward-based credit card payments app.[7] CRED also allows users to make house rent payments[8] and provides short-term credit lines.[9]

As of 2024, the company is valued at around $6.4 billion.[10]

  1. ^ a b "CRED nears Rs 2,500 Cr revenue in FY24; cuts operating losses by 41%". EnTrackr. 30 September 2024.
  2. ^ "Kunal Shah's CRED raises $215 million to be India's latest unicorn with a valuation of $2.2 billion". Business Insider. Retrieved 10 April 2021.
  3. ^ "Kunal Shah's Cred turns unicorn in less than three years; valuation slingshots nearly 3X to $2.2 billion". The Financial Express. 6 April 2021. Retrieved 10 April 2021.
  4. ^ "Cred valued at $2.2 billion with new round, Kunal Shah says 'conscious call' to not monetise in first 2 years". cnbctv18.com. 6 April 2021. Retrieved 10 April 2021.
  5. ^ Patwa, Prasannata (26 November 2018). "Cred to launch product for credit card users". mint. Retrieved 11 April 2021.
  6. ^ Gooptu, Biswarup; Sharma, Samidha. "Kunal Shah: FreeCharge's Kunal Shah is back with Fintech firm Cred". The Economic Times. Retrieved 11 April 2021.
  7. ^ Bajaj, Karan. "Cred review: Makes credit card bill payments easier, rewards for timely transaction". The Economic Times. Retrieved 11 April 2021.
  8. ^ "How to pay house rent online with your credit card using CRED app". www.timesnownews.com. 11 June 2020. Retrieved 11 April 2021.
  9. ^ Staff (20 April 2020). "Cred Rentpay, Stash services launched in India". BGR India. Retrieved 11 April 2021.
  10. ^ Singh, Manish (9 June 2022). "India's CRED valued at $6.4 billion in new funding". TechCrunch. Retrieved 10 November 2024.