What is the business model for CRED?

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 much does CRED spend on advertising?

During FY20, CRED raised about Rs 828 crore, which it excessively spent across various verticals, especially in marketing. By spending Rs 180 CR in FY20 on marketing, the company saw a sharp increase in its marketing costs (from 19 CR in FY19)!

What is the revenue of CRED?

In FY20, CRED posted operating revenue of INR 52 Lakhs. The company made more revenue from interest on fixed deposits and current investments than actual revenue from operations. Its total expenses stood at INR 378.39 Cr, an increase of 492\% from FY19 when it recorded expenses worth INR 63.90 Cr.

Is 800 a good cibil score?

Good Score and Bad Score Scores above 800 are considered high and you can easily ask for a lower rate on personal loans and credit cards. A good score for secured loans. However, for unsecured credit, the bank might investigate further (like social score) or impose slightly higher rates.

Who invested in Cred?

Existing investors Tiger Global and Falcon Edge Capital co-led the three year-old Bangalore-based startup’s Series E financing round. Marshall Wace and Steadfast also participated — and so did existing investors DST Global, Insight Partners, Coatue, Sofina, RTP and Dragoneer.

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.

How much does cred spend to earn one rupee?

CRED spends ₹ 727 to earn one rupee! Coming back to the story, like all hyper-funded startups, CRED has also been registering mammoth losses year on year. However, despite this, its annual expenses seem to be on a race for the top.

What is the valuation of cred?

It is a Fintech startup and was started in the year 2018. Currently, it is valued at $2.2 Billion i.e., Rs. 16111 Crore. In the FY2020 cred’s earning was Rs. 52 lakhs but to earn that amount he had to incur Rs. 378.4 Crores. Means he had to spend Rs. 727 to earn A Rupee. What Does Cred Do?

What is the use of credcred?

Cred helps Credit Cardholders to pay their bills within the specified time limit. It rewards you to pay that through Cred Coins which you can redeem to buy other items from the partner Merchants. But what is the main problem that Cred is solving?