business
Cred's big contrarian bet on India
Jan 14, 05:01

Less than three-year-old Cred was recently valued at $800 million. It could soon be a Unicorn—a business valued at $1 billion. So what is Cred's secret sauce? Cred is like any other payment app but with a difference. It rewards users with discounts/membership access for timely payments. It also provides reminders and analysis of spending habits. Cred's success is also due to founder Kunal Shaht's contrarian bet. As he said in an interview to Rest of the World, Cred is targeting 1% of India—the top 20-25 million affluent Indians who have a credit card and high credit score, unlike others that chase the masses. He aims to create an exclusive club of consumers who can use Cred for regular transactions.

Money raised gfx - Jan 14