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Unveiling the Data Privacy Policy of CRED: Keeping Your Information Safe and Secure

Paying credit card bills can often be a daunting task, especially when you have to keep track of multiple cards or missed payments. Enter CRED, a FinTech startup that aims to simplify credit card bill payments while also providing exclusive rewards and offers to its users.

In this article, we’ll take a closer look at the services and rewards provided by CRED, as well as the company’s history and founder.


CRED is a mobile app that allows users to make credit card bill payments easily while also earning rewards and exclusive deals from top brands. The app was launched in 2018 and has since then built a user base of over 5 million members.

Overview of CRED’s services and rewards

CRED’s primary service is bill payment, but they also offer a range of rewards and exclusive deals to their users. Some of the services and rewards provided by CRED include:

– Credit card bill payments: Users can link their credit card accounts to the app and pay their bills directly through the app without having to visit each bank’s website separately.

– Exclusive offers: CRED partners with top brands to provide exclusive offers and discounts to its users. For example, users can get up to 50% off on restaurant bills, discounts on flights and hotels, and more.

– CRED coins: Every time a user pays their credit card bill through the app, they earn CRED coins. These coins can be redeemed for rewards such as cashback, discounts, and vouchers.

– Rewards: CRED members can earn rewards such as free memberships, vouchers, and cashbacks by referring new users, making timely payments, and more.

Partnerships and features of CRED

CRED partners with top brands and companies to provide its members with a range of benefits and features. Some of the brands and partners that CRED has tied up with include:

– Swiggy: Members can get up to 20% off on Swiggy orders.

– Flipkart: Members can earn discounts and rewards on purchases made through Flipkart. – Airbnb: Members can avail of special offers and discounts on Airbnb bookings.

– Dunzo: Members can get free delivery on their first Dunzo order. CRED also offers a range of features that help users better manage their finances, such as financial literacy resources and personalized credit scores and spending habits analysis.

CRED Company History

CRED was founded by Kunal Shah, an Indian entrepreneur who previously co-founded PaisaBack and FreeCharge.

Background and journey of founder Kunal Shah

Kunal Shah is a well-known name in the Indian startup ecosystem. He started his career in the early 2000s as a software developer before moving on to entrepreneurship.

In 2010, he co-founded PaisaBack, a deals and discounts platform. In 2011, he co-founded FreeCharge, a mobile wallet and payments platform.

FreeCharge was acquired by Snapdeal in 2015 for $400 million.

Launch and growth of CRED

In 2018, Kunal Shah launched CRED with the aim of making credit card payments simpler and rewarding for users. Within a year of its launch, CRED raised $120 million in funding in a round led by Ribbit Capital and Sequoia Capital.

The app has since then grown rapidly, with over 5 million members and a valuation of over $2 billion. CRED has also made a number of acquisitions, including Indian wealth management platform Vauld and U.S-based digital insurance platform Tryb.


CRED is a game-changer in the credit card payments space, with its easy-to-use app and range of rewards and offers. Kunal Shah’s entrepreneurial journey and vision have played a significant role in CRED’s success, which has quickly established itself as one of India’s leading FinTech startups.CRED has disrupted the traditional way of paying credit card bills and given users a new way to pay bills and earn rewards.

However, have you ever wondered how the company earns revenue? In this article, we’ll delve deeper into how CRED makes money.

We’ll take a closer look at some of the revenue streams that CRED has, including transaction fees, advertising & affiliate fees, and loan referral fees. We’ll also take a look at the company’s funding, revenue, and valuation.

How CRED Makes Money

Transaction Fees

One of the main revenue streams for CRED is transaction fees. The company charges a transaction fee for its CRED RentPay service, which allows users to pay rent using their credit cards.

CRED charges a 1.5% transaction fee for RentPay, which is used to cover the credit card network fees, as well as fees charged by banks for processing the payment. The company also earns a small percentage of revenue on every credit card bill payment made through the app.

Advertising & Affiliate Fees

CRED has a unique feature called CRED Store, which is an in-app shopping platform that provides exclusive deals

to CRED members. The store features direct-to-consumer (DTC) brands such as boAt, Urban Company, and Edureka, among others.

CRED earns revenue through affiliate fees charged to the brands for every sale made through the CRED Store. In addition to affiliate fees, CRED also earns advertising revenue from DTC brands that want to promote their products to CRED’s user base.

CRED provides these brands with exposure to its exclusive user base, which includes high credit score members.

Loan Referral Fees

CRED has recently launched a new feature called CRED Stash, which is a lending facility provided in partnership with IDFC FIRST Bank. CRED members can apply for personal loans through CRED Stash, and if approved, CRED earns a referral fee from IDFC FIRST Bank.

These referral fees depend on the creditworthiness of the user, and the loan amount approved. CRED earns a percentage of the loan amount as a referral fee, which is a win-win situation for both the user and the company.

CRED Funding, Revenue & Valuation

Venture capital funding and investors

CRED has raised a total of $368 million in funding through six funding rounds. The company’s initial funding round in 2018 was led by Sequoia Capital India and Ribbit Capital.

In 2020, CRED raised $185 million in a Series C funding round led by DST Global, Coatue, and Tiger Global Management. To date, the company has raised funds from notable investors such as Ribbit Capital, Sequoia Capital India, DST Global, Coatue, and Tiger Global Management.

Revenue, financial performance, and valuation

CRED has not disclosed its revenue figures, but its financial performance has been impressive. In the fiscal year 2020, the company reported a net loss of INR 360 crore ($47 million), up from INR 66 crore ($8.6 million) in the fiscal year 2019.

However, the company’s gross revenue has been growing steadily, from INR 3.4 crore ($447,000) in the fiscal year 2019 to INR 52.9 crore ($6.9 million) in the fiscal year 2020. This surge in revenue can be attributed to the rapid growth in the company’s user base, as well as the addition of new revenue streams such as CRED Store and CRED Stash.

CRED’s valuation has also steadily increased, from $450 million in February 2020 to $4 billion in April 2021. The company’s latest funding round in April 2021 saw participation from new investors such as Falcon Edge, Insight Partners, and Moonstone Capital.


CRED has taken the concept of credit card bill payment and added an element of rewards and fun to it. It’s an innovative concept that has resonated with users.

The company’s revenue streams, including transaction fees, advertising & affiliate fees, and loan referral fees, have contributed to its financial success. In addition, CRED’s steady funding rounds and increasing valuation indicate investor confidence in the company’s growth prospects.CRED has gained popularity among users for its rewards and easy bill payment services.

However, with any financial service, data privacy policies are of utmost importance. In this article, we’ll take a closer look at CRED’s data privacy policy.

We’ll examine how the company uses and shares data, as well as its plans for future services and potential data usage.

Data Privacy Policy

Use of data and data sharing

CRED has a strict privacy policy in place that outlines how the company collects, uses, and shares user data. The company collects user data such as payment information, transaction history, and credit score, among others, to provide its services.

However, the company ensures that all data is stored securely and is protected by encryption. CRED shares user data with third-party vendors only if it is necessary to provide the services, such as payment gateways and credit bureaus.

The company does not sell user data to any third-parties for marketing or advertising purposes. CRED also anonymizes the data shared with third-parties.

Internal usage of data and potential future services

In addition to providing bill payment services, CRED is also exploring potential future services that could be provided to its user base. One possible service is targeted advertising.

CRED has a large user base, and advertisers might be interested in targeting their ads based on the user’s spending habits, location, and credit score, among other data points. However, CRED’s privacy policy outlines that user consent would be required for this kind of service to be implemented.

Another possible future service is a lending product. CRED’s partnership with IDFC FIRST Bank for CRED Stash is an indication of the company’s interest in the lending space.

User data such as credit score and payment history can be used to determine loan eligibility and terms. However, the company has stated that user data would not be used in any way that is not outlined in its privacy policy.

CRED also has plans to provide value-added services to its user base. The company could potentially use user data to provide personalized financial advice, such as budgeting and investment tips.

Again, user consent would be required for this service to be provided.


CRED’s priority is its users’ data privacy. The company has established a strict privacy policy that outlines how data is collected, used, and shared.

The policy also outlines how user data will be used in potential future services. CRED ensures that user data is stored securely and protected by encryption.

The company is exploring new ways to add value to its user base but has stated that user consent would be required for any service that uses user data that is not outlined in its privacy policy. In conclusion, CRED’s data privacy policy is crucial for ensuring the security and protection of user data.

The company collects data to facilitate bill payments and rewards but strictly adheres to privacy guidelines. User data is shared with third parties only when necessary and not sold for marketing purposes.

CRED’s potential future services, such as targeted advertising and lending, would require user consent. By emphasizing privacy and maintaining transparency, CRED demonstrates its commitment to data protection.

As users engage with financial services, it is essential to remain vigilant about data privacy and choose platforms that prioritize user security.

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