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CRED acquires Kuvera, marks entry into wealth management space

The latest deal would allow CRED to offer investment product like direct mutual funds, FDs, SIPs, and digital gold to its user base besides financial planning tools. The company has also been looking to expand its new insurance product under fintech arm DASPL.

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Cred revenue grows 3 5x to Rs 1,400 crore, losses widen 5% to Rs 1,347 crore in FY23

While Cred has raised over Rs 8,000 crore to date, its cash reserves now stand at around Rs 2,050 crore. Based on its FY23 losses, this cash runway would last for the next three years.

Kunal shahCred cashCred maxAxis rupayRed fy23 resultsRed fy23 revenueRed profitUpi paymentsCredit card payments

cred: Cred s FY2023 revenue more than triples, losses grow marginally

While the companys revenues rose significantly, expenses shot up, too. In FY2023, the Bengaluru headquartered fintech reported total expenses of Rs 2,831 crore, a spike of 66% from the Rs 1,702 crore payout a year earlier. Most of this was driven by a jump in payment processing charges and employee benefit expenses.

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RBI rejects Cred s application to increase stake in NBFC Newtap: Report

RBI rejects Cred s application to increase stake in NBFC Newtap: Report
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Cred s share of credit card payments shrinks, takes shine off premium offering

Over the past 16 months, most of Cred’s growth has come from UPI transactions rather than deeper engagements by its top credit card customers.

Kunal shahNational payments corporation of indiaIndian premier leagueWhile credUnified payment interfaceNational payments corporationReserve bankGoogle payAmazon payCred cash

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