Story of the founder of CRED - Kunal Shah

1. KUNAL SHAH
CEO AND FOUNDER OF CRED
PRESENTED BY
Paravar Sharma
PRESENTED TO
Mr.Deepraj Bhandari

2. ABOUT :-
Kunal Shah is an Indian entrepreneur and venture capitalist
who is the founder of CRED, which is considered the second-
fastest-growing unicorn startup in India. In 2021, this startup
was slated to hit a $2 billion valuation with $200 million
funding. Kunal Shah is an angel investor, founder of CRED and
previously founded FreeCharge. CRED is a is a members-only
credit card bill payment rewards platform that incentives and
rewards members for clearing their bills on time.

3. EDUCATION :-
Kunal Shah then went to Wilson College to pursue his
higher education.
He completing graduation in Bachelor of Arts
(Philosophy)
After completing his undergraduate , he went to Narsee
Monjee Institute of Management Studies.
He is a college dropout.

4. EARLY LIFE :-
Started working at the age of 15 to overcome financial crisis.
He continued working while pursuing his bachelor’s degree
and had gigs as a freelance designer and programmer.
He later built a small SaaS company called PaisaBack, a cash-
back and promotional discount campaign platform for
retailers, which eventually turned into FreeCharge in 2010.
FreeCharge was acquired by Snapdeal in 2015 and Kunal
continued overseeing operations before exiting in 2016. In
2017, the firm was acquired by Axis Bank.

5. STARTING OF CRED :-
In 2018 he set up CRED, an app where users can make credit
card payments and earn rewards.
The goal was very simple. It was to create a platform where
life could be made better and systematic.
Kunal Shah wanted to offer more privileges and benefits to
the people having good credit scores.
Therefore, Cred was founded primarily to solve the problems
of the taxpayers and reward them with attractive rewards in
return.

6. FUNDING AND INVESTORS :-
Cred has raised a total amount of $1+ billion in funding over
the 10 funding rounds that the brand has witnessed.
Cred has last received $80 mn in funding on June 9, 2022,
via its Series F funding round led by GIC, and followed by
Sofina Ventures, Alpha Wave Ventures, and DF International.
Cred was valued at $4.01 bn in October 2021, which has
jumped more than 60%, as assessed in June 2022.

8. AQUISITIONS :-
Cred has acquired 3 companies to date.
Hipbar, Happay, and smallcase.
Hipbar was acquired on October 21, 2021, which was followed by
the finalising of the acquisition of smallcase on August 2, 2022, in a
deal worth $400 mn.
Cred was looking to acquire Happay, as per the reports dated
December 1, 2021. The deal had been sealed and was expected to be
a mix of cash and stock.
thereby valuing Happay at over $150 mn. Happay is the second
acquisition for the company after Hipbar, in October 2021.

10. GROWTH AND REVENUE :-
Cred has shown steady growth throughout the years.
Being a startup that was founded in 2018, it successfully
joined the unicorn club on April 6, 2021, closing its
Series D round where the company had mopped up $215
million.
Cred's valuation reached $6.5 billion in 2022 after a
$200 million funding round.

12. LESSONS TO LEARN :-
Observe people who can thrive in a crisis and learn from
them.
People who hate wealthy people, or hate wealth, wealth will
not come to them.
Money is a medium to unlock choices in life and is not your
identity.
More money leads to more choices and more access.
If you grow your skills, money will chase you. Upskill like
crazy and money will hunt you down.

13. THANK YOU