Today with this article we will continue our article series in which we talk about case studies and business model of different startups and big companies. So today I am with you with a new startup company and we will talk about Kunal Shah’s Cred.
Cred is the name of the new pursuit coasted by Kunal Shah, who is known to have established digital payment platform Freecharge. He figured out how to pitch it to online business entrance Snapdeal for $400 million in the year 2015.
It is situated in Bengaluru where new startups are taking boost every day.
From that point onward, he has been rallying all over being counsel to a few organizations and so on. Presently, he has again turned business visionary by launching Cred.
Previous Freecharge Chief Executive Kunal Shah has declared his new gig Cred on Facebook. As indicated by Newsface sources, Cred is intended for the best level working proficient who has a yearly pay of over Rs 15,00,000 and CIBIL score of 700-750 or above.
Cred is presently having a group of around 50-60 individuals based out of Bengaluru. “Numerous Freecharge workers went along with him alongside a few Chinese,” uncovered sources.
Excited to announce Cred, my new startup after 3+ years of playing on the sidelines.— Kunal Shah (@kunalb11) November 5, 2018
A platform to celebrate and reward the most creditworthy people of India ??
Team working hard to get the beta out in a few weeks.
Happy Diwali everyone. pic.twitter.com/TbQaSO4OFo
Surprisingly, with the CRED versatile application, clients really get compensated for paying their Mastercard charges on time. This is notwithstanding enabling clients to flawlessly deal with numerous Visas and chase down hidden charges on their announcements.
Shah previously had raised $30 million from a gathering of speculators driven by investment firm Sequoia Capital for the new pursuit.
Shah has been a key startup figure for quite a long while. His endeavour Freecharge sold out to flat online business major Snapdeal in about $400 million money and stock in April 2015.
Shah along with Tandon worked on startup and launched in 2010. The startup was named as Freecharge.
The startup was acquired by online e-commerce marketplace Snapdeal for $450 million. In 2015 it was the largest deal for an Indian startup.
Freecharge was one of India’s top recharges platforms for mobile recharge, bill payment.
In July 2017, Snapdeal sold the digital payments- Freecharge to Axis Bank in a deal of Rs 385 Crore ($60 million).
Shah turns into the second well-known business visionary to report his new startup. Prior this month, Ashish Kashyap, who drove goibibo Group had made a rebound as a business visionary with full stack riches the executive’s application IndWealth. The yet to be propelled stage likewise raised $30 million from Steadview Capital.
Users are liking this app very much because it is providing good cash back.
So, at last, we get to know about Cred which helps you to pay a bill via phone from your credit card. Reports state that it is also launching venture next month so just stick to us to be updated about businesses.