Full-Time
Cards – Growth
Cred
1,001-5,000 employees
Credit card management and rewards platform
No salary listed
Junior, Mid
Bengaluru, Karnataka, India
In Person
- good understanding of fintech as a domain
- good understanding of cards, value propositions and first-principle thinking of what customer needs
- data driven and bias for action/speed to experiment and learn fast in an agile environment
- has worked in growth roles for consumer first companies and preferably growth of financial products
- responsible for driving growth of cards issued to CRED members
- responsible for managing offers, campaigns, best card offers backwards of consumer need and adoption patterns
- responsible for working very closely with risk teams (internal + issuers) to ensure high predictability of offers for CRED members
- responsible for working with ds/analytics team to have right recommendation models being out in place increase throughput
- responsible for promoting/working with relevant pocs to get right inventory of digital assets to increase customer interest in products
CRED.club operates in the credit card management and rewards sector, providing a platform for users to manage their credit card payments and monitor their credit scores. Users can pay their credit card bills through the platform and earn CRED coins for timely payments. These coins can be used for games, raffles, or to access exclusive rewards in the CRED Store, encouraging responsible financial behavior and improving credit scores. CRED Protect offers users insights into their spending, identifies hidden charges, and tracks credit limits in real-time, helping them manage their finances better. Additionally, CRED RentPay allows users to pay rent with their credit cards, earning more rewards and enjoying a credit-free period of up to 45 days. CRED.club differentiates itself by combining credit card management with a rewards system and financial insights, aiming to enhance users' financial health and encourage timely payments.
Company Size
1,001-5,000
Company Stage
Late Stage VC
Total Funding
$1.1B
Headquarters
Bengaluru, India
Founded
2018
Simplify's Take
What believers are saying
- CRED's focus on sustainability aligns with the fintech industry's profitability trend.
- Growing demand for seamless financial management tools supports CRED's multi-platform approach.
- CRED's expansion in digital payment solutions taps into emerging market opportunities.
What critics are saying
- Increased competition from new fintech startups may dilute CRED's market share.
- CRED's valuation drop could impact investor confidence and future funding rounds.
- Potential regulatory changes in India's fintech sector may increase compliance costs for CRED.
What makes Cred unique
- CRED offers a unique rewards system for timely credit card bill payments.
- CRED Protect provides detailed spending analysis and real-time credit limit tracking.
- CRED RentPay allows rent payments via credit card, earning users additional rewards.
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Growth & Insights and Company News
6 month growth
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↑ 0%2 year growth
↓ -1%India's fintech platform Cred raised $72 million in funding at a $3.5 billion valuation, down from a $6.4 billion valuation in 2022. Founded in 2018 by Kunal Shah, Cred's investors include Sequoia Capital, RTP Ventures, Ribbit Capital, DST Global, Tiger Global Management, Coatue, Insight Partners, Marshall Wace, and Singapore GIC.
Cred, a fintech unicorn, has raised ₹617 crore in new funding, but its valuation has decreased by 45% from $6.4 billion to $3.5 billion. This decline reflects a shift in investor focus towards profitability and sustainability. Cred intends to use the funds to expand its fintech offerings and enhance user engagement, moving from rapid scaling to a more sustainable, revenue-driven growth strategy.
The fintech major was valued at $6.4 billion in 2022 during its last major fund infusion. The current fund infusion is in the form of primary capital, which means that existing investors have not sold any shares in this round. The drop in valuation was in line with the company's plans to list in India over the next two years, people in the know said.
Sofina has invested additional funds in the Indian fintech unicorn Cred, a platform for managing credit card payments. This investment is part of a funding round totaling $72 million (€63 million).
Cred's valuation has been reduced to $3.5 billion following a $72 million funding round.