Cred is an Indian fintech startup founded in 2018 that rewards users for timely credit card payments, aiming to promote financial responsibility and improve credit scores. The company, valued at $2.2 billion, intends to expand its services to a broader audience, with initiatives like a partnership to distribute oxygen concentrators during the pandemic. Cred also focuses on employee well-being with competitive salaries and a strong community support system.

1. “The most rewarding credit card payment app ever”

2. What is CRED?
CRED is an
Indian fintech startup, based out
of Bangalore, Karnataka, which
was founded in 2018 by Kunal
Shah.] CRED's main feature is
allowing users to make credit card
payments through its app for
which they get rewarded.
ABOUT KUNAL SHAH
Kunal Shah is Founder of
CRED.He is an serial
entrepreneur and a
dropout from MBA
colledge.He has launched
various startups like
Freecharge and Paisaback.
“India’s cred valued at 2.2 billion in new 215 million fundraise”

3. Vision of CRED
Mission of CRED
Cred wants to create a frictionless environment -
an environment that creates financial progress for its
citizens. As Kunal puts it. ”I felt the need to create a
system that rewards
trustworthy and creditworthy individuals
of India and inspires others to be like them."
Cred want to bring their
financial services to the next
billion users. they all want to
address much of India, one of the
last great growth markets
globally, in the next few
years.Cred
incentivize credit card users in
India to become more
responsible with money and
thereby improve their credit
score.
“Cred-only club that rewards individuals for their timely credit
card bill payments by providing them with exclusive offers and
access to premium experiences”

4. Challenges For Cred
Objectives Of Cred
The app aims to make paying
credit card bills simpler and
reward you for paying them on
time .It also solves prlb for
overspending by giving real
time checking on expenditure
on your card
CRED’s user reviews are positive with the
app having a rating of 4.6 on with ~100k
reviews.

5. What are management objectives followed by CRED?
Here are organisational objectives:-
Growth -
Cred pegs operating revenue at $15m in FYE 2021. “According to documents
submitted along with its regulatory filings, Cred projected a 208x growth in its operating
revenues to 1.08 billion rupees (US$14.7 million) during the fiscal year ending March 2021
Survival - Cred — is currently testing Unified Payments Interface (UPI)-based digital mode
of payments to allow its users to pay their credit card bills. In the long run, the company
plans on building its consumer base through credit card bill payments and rewards and
then develop high-end loyalty and offer other services, including insurance

6. Contribution towards desirable civic activities - Cred have
partnered with Milaap, India’s leading healthcare fundraising
platform, and taken up the mission of distributing 1 billion litres
of oxygen via oxygen concentrators to hospitals and healthcare
nonprofits across the country. For every 10,000 CRED coins our
members redeem, we will distribute 1000 litres of oxygen via
these concentrators.
Generation of Economic Wealth - CRED members can redeem their
coins to donate oxygen at the link. If you’re not on CRED, you can still
donate here: bit.ly/CREDfundraiser
Support To Community - Cred have set up an in-house COVID task
force with volunteers from our team that collate resources from across
the country to help other team members (and their near ones). we’re
also extending help to team members (and their families) with RT-PCR
test appointments, hospital beds, locating plasma donors, oxygen
cylinders, and pharmacies across the country.
Here are social objectives:-

7. Personal Objectives
Social Regonition ~ Cred being a unicorn startup working there
gives a recognition to employees and motivate them to work hard
Peer Recognition ~ Cred creates job that would allow employees to
take on multiple roles, learning independently but also through the
guidance of others.One of employees in Cred tells “When your
colleagues are willing to help you despite their jam-packed
schedules, you’ve hit the jackpot."
Adequate Salary ~ Cred is giving average salary of 15.1
lakhs p.a. which is way more than average salary of
employees in Indian startups i.e. 7.34 lakh p.a.

8. Message By CRED
“At Cred we always at CRED, we
have always believed in the
power of the community of
people coming together and
making the impossible happen
we see it everyday at CRED, as
our team works from all across
the country.We see it now, as so
many of you are showing up to
help each other and mobilize
resources”

9. BY – SURAJ Saxena