Why was CRED successful?

Credit is crucial when our capital cannot support certain investments, and credit cards had certainly made them easy to avail. This is why Cred decided to come forth with the unique idea of a platform that will help Indians pay their credit card bills on time and also offer them instant offers and rewards for the same.

Why is CRED so popular?

Among the offers are fashion retailers, spas, Amazon gift cards, and more. These offers give their users a variety of rewards to pick from. As a result, it attracts users’ attention. CRED receives a fee from the business every time a user redeems CRED coins from the app to pick an offer.

Why is CRED so valuable?

CRED helps people improve their credit score by encouraging them to pay their credit card bills on time. The startup has amassed over 7.5 million members. (India has about 25 million unique credit card users.) On its app, the startup offers its members access to a range of premium brands.

What is unique about CRED?

CRED is a members-only club that rewards individuals for their timely credit card bill payments by providing them with exclusive offers and access to premium experiences. It is a platform that allows credit card users to manage multiple cards along with an analysis of their credit score.

What is cred startup?

Cred is an Indian fintech company, based in Bangalore, founded in 2018 by Kunal Shah. CRED app’s main feature is reward-based credit card payments. Later, CRED let users to make house rent payments and introduced short-term credit lines.

What is cred strategy?

Cred has several different marketing strategies. Some are viral marketing moves while others are as simple as releasing simple finance-related blogs and rewarding users with cashback and discounts. But every strategy has two things in common, uniqueness and the ability to create brand awareness & brand recall.

What is the strategy of cred?

Who has funded cred?

Mumbai: Cred has raised $251 million in a Series E funding round co-led by Tiger Global and Falcon Edge at a valuation of $4.01 billion, underscoring the unabating interest that Indian fintech is garnering from investors.

Can we invest in cred?

As a CRED Mint member, you can invest any amount from INR 100,000 to INR 10,00,000 and receive payments from the borrowers on a set basis — either one time or in equated monthly instalments.

What is the strategy of Cred?

What is Cred startup?

Is cred Chinese app?

Cred is an Indian fintech company, based in Bangalore, founded in 2018 by Kunal Shah. CRED app’s main feature is reward-based credit card payments.

What is the business model of cred?

The Business Model of CRED. CRED’s business model is focused upon rewarding users for making credit card bill payments through the platform.

What is the cred credit card?

CRED is an online application that rewards users for making their credit card bill payments through their platform. The man behind the CRED platform is Kunal Shah. Kunal is also the founder of Freecharge – a payments company which was acquired in 2015 by Snapdeal.

What is the target market for credcred?

Cred is currently fully focused on targeting its niche by aggressive marketing tactics and reward offerings such as cash backs, deep discounts etc. Just like what Jio, Zomato and Paytm did in their growth stage – Giving hefty discounts, cashback initially for getting its audience used to its services and then finally charging for its services.

What information does cred collect about you?

While offering its services, the company (CRED) collects a lot of information about an individual. The information includes but is not restricted to: Credit Card Information (including the number and brands of credit cards a user holds) Data relating to monthly spends on the cards. Repayment profile. Credit Score and related information.