CRED
CRED is an Indian fintech company, founded by Kunal Shah in 2018 and is headquartered in Bangalore, India. The company aims to provide a convenient and rewarding experience for credit card users by helping them manage their credit card payments, track spending, and earn rewards for responsible credit behaviour.
It offers features, like paying all their credit card bills in one place and earning "CRED Coins" as rewards every time bills are paid. Cred Coins can be redeemed as offers and discounts to buy stuff from Cred’s online store. It also provides users with an option to play games, take quizzes, and join contests.
In 2019, it launched its own app and gained initial attention for its innovative approach to credit card management and rewards. In the same year, it started building its user base, which continued in 2020 when new features were introduced, such as CRED Pay. By 2021, the user base expanded significantly and positioned Cred as one of the prominent fintech startups in India.
In 2023, CRED introduced a new way for its users to make payments using UPI. With this feature, CRED members can now pay anyone from their contact list, using phone numbers or UPI IDs.
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News
Honasa clarifies quantum of unsold inventory in response to claims by distributors body
Akshita Toshniwal | November 21, 2024
The parent company of Mamaearth says its distribution value chain carried a total inventory of Rs 40.69 crore, against the quoted figure of Rs 300 crore of near-expiry inventory by the All India Consumer Products Distributors Federation.
Report
India’s short-form video market now engages close to 250M monthly users: report
Sai Keerthi | November 21, 2024
Since the ban of TikTok in mid 2020, SFV platforms have seen a 3.6x increase in daily active users, the report added.
Woman Entrepreneur
[100 Emerging Women Leaders] How Avneet Kohli is uplifting women entrepreneurs with Encubay
Rekha Balakrishnan | November 21, 2024
Avneet Kohli is the co-founder of Encubay, a global startup and angel platform that aims to drive diversity in entrepreneurship and investing.
Startup Ecosystem
Fintech product delivery in 10 minutes: Invincible Ocean introduces no-code solution for onboarding
Shubhangi Mishra | November 21, 2024
Ajay Setia, CEO, Invincible Ocean, underscores the unique features of the company’s new AI-driven no-code platform, which stands apart from existing no-code and low-code options.
Daily Capsule
Healing healthcare skill gaps; Spacetech startups’ sky-bound ambition
Team YS | November 21, 2024
Edtech startups are playing a key role in helping healthcare personnel stay ahead of advancements. ISRO chief Somanath noted the rising number of firms ready to take on private sector rocket building. LICO Materials recycles, refurbishes, and recovers critical materials from end-of-life batteries.
Opinion
Optimising performance with block storage solutions in the cloud
Mohamed Imran | November 21, 2024
Unlike other cloud storage solutions—such as object storage, which stores data as objects, and file storage, which organises data in hierarchical file systems—block storage is optimised for workloads where performance is critical.
In-focus
How LICO Materials is transforming recycling of lithium-ion battery waste into a sustainable resource
Pooja Malik | November 21, 2024
The startup recycles, refurbishes, and recovers critical materials like lithium, cobalt, manganese, and nickel from end-of-life batteries, which can be used to make new batteries.