The Lens - Ch 3: More than just 'CRED'its
Credit card bills had been a treacherous nightmare for most Indians; for the sheer fact that missing a deadline even by day meant paying a hefty fine. But this was a sweet risk when compared to the cashbacks on online payments, discounts on online and offline purchases, complimentary lounges and much more. But then CRED came into the fold, a brand that made this deal more enticing with automatic payment reminders and getting more rewards to pay the bills. And has it been a game changer for all the consumers taking them to the platform in a split second. CRED, founded by Kunal Shah has showcased an exceptional market penetration. Founded in 2018, the company is now valued at close to $2.2 Billion with 10 Million+ downloads on Google Playstore and an active user base that constituted to approximately 22% of all credit card consumers in India. But what did actually made users to connect with CRED as a consumer? What made it so UNIQUE? 1. ...