2. Founded in 2018 by Kunal Shah, former founder of Freecharge.
Headquarters is in Bengaluru, India.
India’s first application that rewards for paying credit card bills.
Cred has around 247 employees.
CRED is a credit card payment platform that lets cardholders pay bills through
the app, and get a bouquet of benefits via CRED coins.
It had raised a $120 million worth Series B round led by Ribbit Capital and
Gemini Investments in August last year.
3. Increasing
Credit card
users
Diversification
of Products
Chances of
Monopoly
Improper
Revenue
model
Fewer
Customers
Less services
or products
Low ROI
Mindboggling
funding
Indelible
advertising
Huge investor
support
Incredible
customer
community
Works only on
reward system
Entry of
competitors
Long term
interest of
investors
Strengths Weakness Opportunities Threat
4. • allows members to pay their highest recurring household
expense, their monthly rent payments, through Credit Cards
Rent pay
• a flexible, low-interest and instant credit line, has been launched as a pilot
with IDFC FIRST Bank, and is the only offering of its kind in India
CRED Stash
• every time on paying credit card bills on CRED, it provides CRED coins. one
can use these to win exclusive rewards or get special access to curated
products and experiences.
Pay Credit Card Bills
5. Maintaining track record and optimize cash and credit
CRED coins to spend on products, services, and experiences from CRED partners
equivalent to the transaction value of rent.
Upto 45 days credit period
Improving the CIBIL score
The company is also planning to enable auto payments for timely rent payments in
the near future
6. Offers a low-interest instant credit line, through a pilot
with IDFC First Bank
Available at attractive interest rates compared to a typical personal loan.
CKYC Option: completely an instant digital lending service with no more
verification calls, no site visits, delays, etc.
Processing Fee: 1% to 2% (dynamic)
Interest Rates: 11% to 16% (dynamic)
Foreclosure Charges & Part Payment Charges: Nil.
Allows members for a pre-approved with an active credit line of up to 5 Lac
7. Rewards on timely payments of credit card bills
Brand offers and coupons in various categories like dining out, food delivery
apps, flight tickets, and even shopping
Earn coins equivalent to credit card bill amount
Some of the most popular offers on app:
• iXigo flight bookings – Rs. 1000 off on using 5,000 coins
• Flo Mattress – Rs. 5,000 off on using 20,000 coins
• Swiggy – Free delivery for 3 months on using 5000 coins
• Urbanclab – Flat 50% off on man grooming using 25000 coins
8.
9. Accessibility
Online operations only
No offline presence
App can be downloaded from
App stores
How CRED makes
money
No profit motive till now.
Basic earnings are from their
partners.
Charges a processing fee around
2% on Cred stash.
Plans to earn from charging a
commission on rental services
10. Allocated huge budget on advertising in 2020
Spent approx. 60 Cr.
Key Promotions
Sponsor of IPL2020
Looped in Bollywood Legends for sarcastic ads
11. Targeting BCCI for a 3 year contract (replayable value)
Portraying famous celebs as Non Performing Assets for
attracting customer attention towards reliability
Truly viral campaigns over all platforms
Cred Gems:
Referral Program for introducing new users to platform
Amazing vouchers and cashbacks on successful referrals
12. Playing a sustainable long term game
AIM is to create a huge Database
Access to the Data of most spendthrift Indians
Engaging with Big Hotel Chains for booking through CRED
User retention with more offers
Creating a monopoly and launching their own credit cards
Resources: Card Expert, Arayanjalan.com , Brandequity.com