Kunal Shah Real name Age Education Nationality Biography and more
This article will let us know Kunal Shah Real name, Age, Education, Nationality, Biography and Business models of Cred, what were their campaigns, etc.
Quick facts about Kunal Shah
|Real Name||Kunal DilipKumar Shah|
|Profession||Entreprenur & Angle investor|
|Spouse (s)||Bhavna Shah|
|Net worth||$809 miilion|
|Title||Founder and Chairman, Cred|
Who is Kunal Shah?
Kunal Shah is one of the numbers of Indian entrepreneurs who have launched new ventures for the second time. An MBA dropout of Mumbai’s Narsee Monjee Institute of Management Studies, he was previously the founder of PaisaBack, a discount and cashback platform for retailers.
He briefly went to SVKM’s NMIMS and left to start his own business, Paisaback, which provided cash-back promotions for retailers. He began his career at a business process outsourcing firm, which was his first company.
What is CRED
Kunal Shah founded CRED, an Indian fintech company based in Bangalore, in 2018 to let users pay rent and make house payments with their credit cards. Later, CRED also launched short-term credit lines and allowed users to make short-term payments using their credit cards.
Until August 20, 2021, Cred offered five distinct products – CRED RentPay, CRED Cash, CRED Pay, CRED Store, and CRED Travel Store. However, Cred also rolled out Cred Mint, a peer-to-peer (P2P) lending tool that intends to monetise its 7.5 million users.
What is Kunal Shah’s definition of Cred?
As well as being a FinTech company, Kunal Shah describes CRED as a TrustTech company, and that his motivation for launching CRED stems from a need to address trust issues in Indian society, which he believes is the key to economic development.
From where did the company raise its capital?
The company has raised $5.6 billion from Sequoia Capital (India) and Tiger Global, among others, through four rounds of private financing. In the fiscal year 2020 (FY20), CRED posted losses of Rs. 360.31 crore, mainly because of expenses related to marketing and advertising.
In October 2021, CRED started to seek new investors, reporting a $5.5 billion valuation, up from $2.2 billion in April 2021.
IN FY21, CRED REVENUE SOARS 170X, WITH LOSSES EXCEEDING RS 523 CRCRED hod estimated operational revenues of roughly Rs 108 crore for FY21 at the end of the previous fiscal year, after registering income of barely Rs 521 lakh in FY20 (April 2021)The Bengaluru-based firm increased its revenue from operations by 170 times in a single year.
What are the services offered by Cred?
Cred’s services allow users to manage their credit card payments, by linking all their credit cards with CRED, it tracks due dates, sends alerts and reminders, facilitates payments and gives a lot of rewards, cashback, discounts, etc. to its users.
CRED users have nothing to lose and everything to gain. If they pay their credit card bill directly to their bank they get nothing – pay Via CRED and they can take advantage of many guaranteed incentives and chance to win even more.
Marketing strategy of Cred
Cred’s event marketing strategy enables you to take full advantage of a single event rather than running for sponsorships at multiple shows. With a three-year deal with IPL, Cred will debut in the 2020 IPL season.
2.Cred Power Play
As part of Cred’s IPL campaign in 2020, the company offered users up to 100% cashback if they paid their bill amount with the Cred app, however, the company chose one lucky user who received the 100% cashback. There was no minimum payment amount to receive the offer, and any amount was eligible.
It has a YouTube channel that shows how IPL earns money and other finance-related content, so Cred serves the customer with content that their target users are interested in. Cred’s official website publishes blogs related to financial and credit card topics. It also has a blog on its official website about general finance topics.
Cred’s marketing plan deserves praise for its viral marketing. Cred has a history of getting viral with its ads and viral stunts. It is not just one but many times when their ads and stunts have gained the attention of the public.
5.The “Indranagar ka Gunda” ad
Audiences were left in awe by Cred’s advertisement showing Rahul Dravid reacting violently to a traffic jam, He is yelling and ranting, which is thof his personality. The ad suggests that it sounds silly that one can receive rewards when they pay credit card bills using Cred’s App; it’s like saying Rahul Dravid has anger issues.
CRED has released its latest 2019 IPL campaign, titled CRED, Great for the Good. In celebration of the kick-off of this year’s IPL, CRED debuts the first ad of its campaign featuring India’s Olympic hero, Neeraj Chopra.
6.Cake from Cred
Cred made the next viral move in 2019 when it sent cakes to its users. Cred sent cakes to its users whom they met at their workplace, and how they inquired, “Who sent you this cake?” as they pay their credit cards through Cred. This move prompted colleagues to download Cred and start paying their credit cards through Cred, what an awesome idea!
Is Cred safe to use?
CRED ensures you are protected with encryption, so your personal information and transactions are secure. This means what is yours stays yours alone since they make sure they don’t leave any room for mistakes.
Where is the headquarter of Cred?
Bengaluru is the headquarter of Cred.
In which year does Cred start?
In 2018 Cred started.
Is cred a successful business?
Yes, cred is a successful business.
Is Cred safe?
Yes, Cred is safe as it is approved( RBI Reserve Bank of India).