How does cred make its money?

CRED receives a fee from the business every time a user redeems CRED coins from the app to pick an offer. CRED collects your financial data as you use the app and continue to pay your bills to offer you better offers in the future. This is their second source of revenue.

How does cred business model work?

CRED’s Business Model is focused on rewarding users for making their Credit Card bill payments through the online platform. The application uses AI (Artificial Intelligence) systems that track every single activity such as Credit Card Payment journey, due date reminders, spend patterns, and other card usage statistics.

Why is cred successful?

Every time a user avails of the offers, Cred generates an income through it. Using the financial data of the users – Cred accumulates the financial data from the users who use the platform for paying their bills and more.

Is cred a profit?

The fintech unicorn had previously projected a 208X growth in its operating revenues in FY21 to INR 108 Cr, but it is yet to file profit and loss statements for the year ended March 2021. In FY20, CRED posted operating revenue of INR 52 Lakhs.

What is CRED money?

CRED Cash is a flexible credit line launched in 2020 along with regulated partners. With CRED Cash, members are pre-approved for an active credit line of up to Rs 5,00,000 with no forms, documents, phone calls or physical visits.

Does cred charge money?

CRED supports paying your rent through their app. CRED charges a 1.5\% fee for letting you pay rent using credit cards. If you own a premium credit card, the net reward rate, after the CRED fees, will usually be positive.

What is CRED investment?

an exclusive peer to peer investment in partnership with Liquiloans designed to get you returns up to 9\% invest in the creditworthy. reap the rewards. your investment is diversified and lent to creditworthy borrowers, vetted by CRED & Liquiloans, which earns you the high interest. ₹1,00,000.