Entrepreneur with USD400m financial technology exit, starts next financial technology venture

April 17, 2020 | Finance | Private

Image Credit: Cred

Kunal Shah was the Founder and CEO of FreeCharge, which was acquired by Snapdeal for USD400m in 2015.

He is the Founder and CEO of his latest venture called Cred.

What is Kunal Shah’s track record of success?

FreeCharge, is India’s No.1 payments app. Customers across India use FreeCharge to make prepaid, postpaid, DTH, metro recharge and utility bill payments for numerous service providers. 

It launched a wallet in September 2015 that customers use to pay across all major online platforms and offline stores like Shoppers Stop, McDonalds, Cinepolis, HomeStop, Crosswords, Hypercity and even for E-Rickshaws, the list is growing by the day.

What does Cred do?

CRED is building solutions to incentivize credit card users in India to become more responsible with money and thereby improve their credit score.

It is a members-only app that offers you exclusive rewards for paying your credit card bill.

CRED partners with brands that you love to get you unmatched rewards, experiences and upgrades every month.

How have investors validated Kunal Shah’s new venture?

It has raised $120 million in a Series B financing round. The startup, which has raised about $145 million to date, is now valued between $430 million to $450 million.

The world’s best Venture Capital funds like Sequoia scrambled to get a slice of India’s hottest fintech startup.

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