Cred’s first profitable quarter comes with a trade-off. No, not Kunal Shah
About this episode
Cred reports its first profitable quarter amidst significant changes in leadership and business strategy.
Cred just reported its first profitable quarter. Meta invested 8,500 crore rupees. And Kunal Shah walked out the door. Eight years of questions about Cred's business model ended the moment it finally had answers. The design-first, exclusivity-obsessed fintech that rewarded creditworthy Indians with gold credit cards now makes most of its money from lending — the same way every other UPI app does. Shah left for WhatsApp. Meta needed someone who could monetise a billion Indian users without making regulators nervous. What that means for both companies is the more interesting question. Scripted by Snigdha Sharma based on the report by Suprita Anupam. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
People in this episode
Host: Snigdha Sharma
Topics covered
- profitability
- fintech
- business model
- investment
- leadership change
Keywords
- Cred
- Kunal Shah
- Meta
- profitability
- fintech
- lending
- UPI
- business model
Mentioned in this episode
Organizations: Cred, Meta, WhatsApp
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