CRED: A fintech unicorn’s journey and future path

Abstract

This case study explores the swift ascent of CRED, an Indian fintech business established by Kunal Shah in 2018. CRED has revolutionised the consumer credit card payment experience with its inventive rewards-oriented approach. CRED has developed a distinctive platform that combines financial discipline and a premium, gamified experience by targeting users with good credit scores and offering exclusive prizes for prompt bill payments. The study aims to investigate the primary factors that have contributed to the success of CRED, such as its strategic utilisation of data, collaborations with prominent brands, and highly efficient marketing initiatives. Nevertheless, the case study also thoroughly analyses the obstacles that CRED will face to sustain its growth trajectory. The hurdles encompass the viability of its rewards system, handling substantial operational expenses, and manoeuvring through the intricate regulations of the financial services industry in India. The study will examine how CRED can effectively respond to the growing competition from both fintech startups and established financial institutions and mitigate the possible dangers arising from shifting consumer behaviour and economic situations. This case study offers insights into CRED’s prospects and the strategic choices it must make to maintain its success in the highly competitive and fast expanding fintech industry. It provides a complete analysis of CRED’s strategy.