Kunal Shah

Serial investor Shah, was upbeat about the prospects of the new products, especially the Sovereign gold card. “Take a good look because you will probably not see it. Most people will not get it.”

CRED's Kunal Shah: Indians who make Rs 10,000/hour will waste an hour to save Rs 500

CRED founder Kunal Shah shares his observations on India's economic growth, highlighting the lack of 'time value of money' and the low female workforce involvement.

Billionaire Nithin Kamath says his credit score isn't good enough for CRED. Kunal Shah reacts

This light-hearted exchange highlighted CRED's well-known internal policy: a stellar resume and top-notch skills aren't enough to secure a job at the company; prospective employees also need a credit score exceeding 750.

India does not have a culture of excellence, says Cred's Kunal Shah

Kunal Shah said the ability to adapt will be critical for startups as emerging technologies like AI reshape industries such as BPO and IT services.

India worships founders like gods, but does 'visarjan' if things go south, says Cred’s Kunal Shah

He was answering a question on negative coverage of BluSmart founder allegedly diverting loans meant for funding BluSmart's electric vehicle purchases for personal use.

Around 50–60% use ChatGPT for 'unproductive purposes', says Cred’s Kunal Shah on use-cases of AI

Kunal Shah acknowledged that many fintechs are faced with difficult trade-offs. “A lot of choices in fintech have to be made where it may not be great with the consumer, but it is great for business,” he said.

CRED's Kunal Shah says AI has created an interesting impact: 'It’s exposing bad talent faster'

Speaking about the rapid advancements in AI and its impact on software development, CRED CEO Kunal Shah said that while AI tools are reducing the time and cost of building software, efficiency alone does not equate to success.

Our business has grown multi-fold, but headcount remains flat: Cred’s Kunal Shah on AI’s impact

He added that Cred will start hiring more number of “high-judgment people” versus people who can just "work", referring to coders.

Cred launches 'Svalbard,' allowing users to pledge mutual funds for digital credit lines

Cred also unveiled a slew of features to help users manage and improve their credit scores, along with a new credit card management experience

Cred’s loan book crosses Rs 19,000 crore mark, NBFC arm explores equity funding

As of December 2024, Cred’s monthly transacting user base crossed 1.2 crore, growing at a CAGR of 30 percent.

Fintechs are burning money without understanding when to stop, says veteran banker KV Kamath

According to Kamath, fintechs are constantly building more and newer products without looking at business outcomes.

Convenience is king, disruption in broking and AMCs inevitable, says KV Kamath

At the Moneycontrol Fintech Conclave, Kamath highlighted that broking is already facing disruption, and the next target could be Asset Management Companies

Most affluent customers in India do not understand financial literacy basics, says Cred’s Kunal Shah

Shah urged the fintech industry stakeholders to create different mechanisms to understand how credit, especially unsecured loans, are getting used to avoid NPAs due to speculative behaviours

How Cred makes money

More than 90% of Cred’s revenue comes from payments, lending and insurance. However, as the company monetises more of its user base and cross-sells more products, this could change gradually

Cred revenue rises 66% to Rs 2,473 crore in FY24, losses down by 41% to Rs 609 crore

Cred has seen more financial services institutions coming to its platform for unsecured lending over the last year as they chase premium customers. The RBI has expressed concern multiple times about huge growth in low-ticket unsecured loans. Cred mostly disburses high-ticket loans to prime customers, which banks, too, target.

Cred's Kunal Shah doubles down on affluent users, launches unified financial data platform

Focussing on the most affluent customers, Cred recently launched a luxury rewards programme called “Only Fridays”, where the company offers premium headsets and speakers, luxury watches, Playstation, designer clothing and accessories

Anand Chandrasekaran becomes top angel investor 3rd time in a row, Kunal Bahl a close second: Hurun India

Major soonicorns in his portfolio include SaaS Labs, MoEngage, Safe Security, and InVideo.

Cred’s new-user growth stagnates, increased UPI payment a silver lining

UPI payments are growing at a much faster clip than credit card payments, even among affluent customers. Targeting this segment seems to be working for Cred, as even without many customer additions, the company’s UPI share has grown well.

Delhi man says he got Re 1 cashback from Cred after paying credit card bill of Rs 87,000

Bengaluru-based Cred is the largest third-party app for credit card bill payments in the country and has more than 15 million active customers. It is also the fourth largest Unified Payments Interface (UPI) player in India.

Sam Altman creates instant AI video for Cred CEO Kunal Shah. Watch

ChatGPT creator Sam Altman asked X uses to give specific intructions that he would use to generate videos using Sora.

CRED's Kunal Shah had to work as a delivery boy after family went bankrupt: Info Edge founder

In earlier interviews, Kunal Shah has revealed that his family’s poor financial situation prompted him to start earning as a teenager.

CRED's Kunal Shah says, 'No big achievement can come with work-life balance'

The founder and CEO of CRED also spoke in favour of 'brutal' 996 work culture prevalent in China where employees are expected to work from 9am to 9pm 6 days a week.

Cred revenue grows 3.5x to Rs 1,400 crore, losses widen 5% to Rs 1,347 crore in FY23

While Cred has raised over Rs 8,000 crore to date, its cash reserves now stand at around Rs 2,050 crore. Based on its FY23 losses, this cash runway would last for the next three years.

'We're Not Realizing The Risks Of AI' Says CRED Founder Kunal Shah

Artificial intelligence will leave about 90 percent of people without jobs in the next 10 years, said Kunal Shah, Founder and CEO of fintech unicorn CRED, adding to the industry-wide debate around the threat of job losses due to AI in the workforce. “We are not realising the risk of AI. I can tell you with confidence that 90 percent of people, who have jobs right now may not have their jobs relevant 10 years from now,” said Shah in a conversation with CNBC-TV18’s Shereen Bhan at the Global Fintech Fest 2023, on September 8.

AI may make 90% of workforce lose job-relevance in 10 years: CRED’s Kunal Shah

Shah believes that while some argue that upskilling can save jobs, humans cannot upskill so quickly. The time to upskill is going to be a real challenge. Unless you are a very curious compounding person, everybody's job is at risk, he said