CRED

What CRED does

CRED (Dreamplug Technologies Private Limited) is an India-based, members-only fintech platform founded in 2018 by Kunal Shah, operating exclusively in India and serving consumers with a CIBIL credit score of 750 or above. The platform reports approximately 15-17 million monthly active members and processes over 40% of India's credit card bill payments, with $100 billion in cumulative total payment value by 2026. CRED is headquartered in Bengaluru with a registered office in Mumbai, and operates primarily through a single unified mobile app (iOS and Android) as its distribution surface.

The CRED app integrates credit card bill payments, UPI payments (via NPCI-authorized Third Party App Provider framework with Axis Bank and Yes Bank as Payment Service Providers), account aggregation through Finvu (covering 18+ Indian banks), a prepaid payment instrument wallet (issued by group entity Dreampurse under RBI authorisation), personal loan distribution through a 13+ bank/NBFC partner panel (IDFC First, CreditSaison, Liquiloans, Vivriti, DBS, Newtap, L&T Finance, YES Bank, Aditya Birla Capital, DSP Finance, Poonawalla Fincorp, KrazyBee, Respo), credit lines against mutual fund holdings (CRED cash+), deferred payment (CRED Flash via Newtap), and a co-branded metal RuPay credit card with IndusInd Bank. Engineering features include tokenized NFC Tap to Pay (Google HCE, Visa and Mastercard tokenization, Guardsquare DexGuard), 100% digital loan origination with KYC, e-NACH, video KYC, and RBI-mandated Key Facts Statement disclosure, ISO 27001/27701 certification, RBI data localisation, and integration with MF Central. The group operates via multiple licensed entities: Dreamplug Technologies (parent), Dreampurse (PPI issuer), Dreamplug PayTech (payment aggregator, authorised March 2026), and Dreamplug Advisory Solutions (CRED money, CRED Networth, CRED Garage).

CRED monetises through lending commissions as a Lending Service Provider and Digital Lending App; payment aggregation fees for CRED Pay merchants via Dreamplug PayTech; float and interchange on the Dreampurse-issued CRED Wallet; brand partnership, cashback sponsorship, and CRED Store marketplace commissions; co-branded credit card revenue share with IndusInd Bank; and engagement-driven subscription/transaction flows on CRED Pay and CRED Max. Lending AUM reached INR 24,000 crore, FY25 operating revenue was INR 2,735 crore (~$325M, +16% YoY), operating losses narrowed 51% YoY to INR 298 crore, and the company reported its first profitable quarter in 2026 ahead of a planned IPO. In June 2026, Meta invested $900M in a Series H round at a $4.5B post-money valuation for ~20% minority ownership (structured as $500M primary, $400M secondary, and $100M ad credits); concurrently, founder Kunal Shah stepped down as CEO to lead WhatsApp at Meta, with Miten Sampat appointed as interim CEO.

Name

CRED

Legal name

Dreamplug Technologies Pvt Ltd.

Website

https://cred.club

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

501–1,000 employees

Short description

CRED is a members-only Indian fintech platform serving high-credit-score (CIBIL 750+) consumers with credit card bill payments, UPI, lending, wealth management, vehicle services, and a co-branded RuPay credit card via a single mobile app.

Ownership category

akta.pro rank

Product category

Consumer Fintech

NAICS

Activities Related to Credit Intermediation (5223), Credit Bureaus (561450)

SIC

Finance Services (6199), Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro primary industry

CRM Data Quality, Enrichment & CDP-Adjacent CRM (HDAEAFAJ)

akta.pro secondary industry

Customer Service/Support CRM & Contact Center Platforms (BPAFAFAK)

Keywords

• Consumer fintech platform
• Credit card bill payments
• UPI payments app
• Digital personal lending
• Wealth management app

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Supply Chain, Others

Revenue model

1. Lending commissions (LSP/DLA): CRED acts as a Lending Service Provider and Digital Lending App distributing personal loans, CRED cash+ (loan against mutual funds), and CRED Flash (BNPL) from a panel of bank/NBFC partners (IDFC First, CreditSaison, Liquiloans, Vivriti, DBS, Newtap, L&T, YES Bank, Aditya Birla, DSP, Poonawalla Fincorp, KrazyBee, Respo). Revenue is earned via commission / fee on each loan sourced or processed through the app.
2. Payment Aggregator services for CRED Pay merchants: Dreamplug PayTech Solutions Private Limited (CRED Group Entity) operates the payment aggregator for CRED Pay, collecting and settling online payments for merchants who enable CRED Pay as a checkout option. Merchants are onboarded via partner.cred.club and pay platform/processing/GST charges.
3. Prepaid Payment Instrument / CRED Wallet (Dreampurse): CRED Wallet is a PPI issued by Dreampurse Technologies (RBI-authorized non-bank PPI issuer). Revenue can include float, interchange and fees on wallet loading/transactions; a nominal fee may be charged when loading the wallet via credit card.
4. Brand partnerships & rewards / cashback promotions: CRED monetizes its high-credit-score member base by partnering with premium brands to deliver exclusive offers, cashback, vouchers, and experiences inside the app. Power-Play and Kill-the-Bill offers are run on credit card bill payments.
5. Co-branded credit card revenue share (CRED IndusInd Bank RuPay): Co-branded credit card with IndusInd Bank on RuPay, including 5% cashback on CRED pay, store, travel and UPI, with reward points redeemable on CRED merchants. Revenue includes interchange, card fees and engagement/rewards economics.
6. CRED Store (marketplace commissions): CRED Store is a curated e-commerce marketplace where third-party Sellers list products, travel and experiences. CRED acts as a marketplace/PSP and earns commissions/fees on transactions; users can redeem CRED Coins for discounts.
7. Penal / late-payment fees on credit products: Although CRED states it does not charge penal charges to customers on its own loans, late-payment fees are chargeable by lenders per the CRED Flash documents; CRED may derive a share of fees where it is the LSP.
8. Subscription / engagement via CRED Pay and CRED Max: CRED Pay transactions, CRED Max rent/bill payments, and commercial-partner revenue streams form the recurring engagement monetization, with CRED earning a margin on payment flows routed through the CRED App.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

CRED operates a members-only mobile app gated by a CIBIL credit score of 750+ that consolidates credit card bill payments, UPI payments (including RuPay credit card on UPI), contactless Tap to Pay, a co-branded IndusInd Bank RuPay credit card, personal loans and credit lines, a licensed prepaid wallet (CRED Wallet), wealth aggregation, and a curated commerce marketplace (CRED Store) into a single rewards-driven platform. Revenue is earned primarily through lending commissions as a Lending Service Provider and Digital Lending App, payment aggregator merchant fees, marketplace commissions, card interchange and rewards economics, and brand partnership advertising.

Product overview

CRED is a single unified members-only platform anchored on a high credit-score user base, organized as a core app plus multiple integrated product modules spanning payments, lending, wealth management, vehicle management, and commerce. The core platform drives credit card bill payments and CRED Rewards, on top of which CRED money and CRED Mint provide wealth tracking and P2P investment, CRED cash+ offers credit against mutual fund holdings, CRED Garage manages vehicles, and CRED Cash and CRED Flash deliver personal loans and deferred payments. Payments surface across CRED Pay, CRED UPI, RuPay credit cards on UPI, and CRED Tap to Pay contactless payments, while CRED Max and CRED Bill Payment cover recurring and bill payments. Lending is enabled through a network of bank and NBFC lending partners, wealth through Finvu and MF Central integrations, and commerce through the CRED Store marketplace, with CRED Wallet and CRED Protect rounding out the offering.

Differentiator

Problem solved

Functional benefit

Brands

• CRED money: Personal finance management and wealth visibility platform built on RBI's account aggregator framework, consolidating bank balances, mutual funds, stocks, NPS, FDs, and gold.
• CRED mint
• CRED garage
• CRED cash+
• CRED pay
• Tap to Pay
• CRED UPI
• CRED store
• CRED wallet
• CRED flash
• CRED IndusInd Bank Rupay Credit Card
• CRED Max
• Kuvera
• Prefr (CreditVidya)

Products and services

• CRED App (members-only platform) Members-only mobile app (iOS/Android) gated by a CIBIL credit score of 750+ that consolidates credit card bill payments, UPI, lending, wealth, vehicle management, and commerce into a single platform for high-credit-score Indian consumers.
• CRED Credit Card Bill Payments Bill payment service that lets members pay credit card bills across major Indian banks and card networks directly within the CRED app, with rewards and CRED Coins on each payment.
• CRED IndusInd Bank RuPay Credit Card Co-branded RuPay metal credit card issued in partnership with IndusInd Bank, offering 5% back on CRED pay, store, travel and UPI spend, plus reward points redeemable across 500+ CRED merchants including Flipkart, Myntra, and Zomato.
• CRED UPI UPI payments feature within the CRED App, allowing members to scan and pay any UPI QR, send money to any UPI app, and receive payments at a virtual payment address, powered by Axis Bank and Yes Bank as Payment Service Provider banks.
• RuPay Credit Cards on UPI Feature that enables RuPay credit card holders to pay merchants via UPI by entering UPI PIN, removing the need to carry the physical card, with two-factor authentication and credit-card reward points on UPI spend.
• CRED Tap to Pay Tokenized contactless card payments via NFC on Android, using secure card tokenization from Visa and Mastercard, Google HCE, and Guardsquare DexGuard whitebox cryptography plus Runtime Application Self-Protection.
• CRED Wallet (PPI) RBI-authorized Prepaid Payment Instrument issued by Dreampurse (a CRED Group Entity) on the CRED App, supporting Small KYC and Full KYC wallets with integration to CRED's UPI rails.
• CRED Pay Payment instrument selection mechanism enabling CRED members to pay on third-party merchant websites and apps using saved cards, with Payment Aggregator services for merchants operated by group entity Dreamplug PayTech.
• CRED Cash (Personal Loans) Personal loan distribution product offering instant pre-approved personal loans to CRED members through a panel of bank and NBFC lending partners (IDFC First Bank, CreditSaison, Liquiloans, Vivriti, DBS, Newtap, L&T Finance, Yes Bank, Aditya Birla, DSP Finance, Poonawalla Fincorp, KrazyBee, Respo).
• CRED Flash (BNPL / Deferred Payment) Single-click deferred payment facility functioning as a short-term personal loan against a pre-assigned limit at Partner Merchants, with single-click utilization and a 3-day cooling-off right; sourced from Newtap Finance.
• CRED cash+ (Loan Against Mutual Funds) Pre-approved credit line allowing CRED members to borrow against pledged mutual fund units, with interest rates starting at 8.99%, LTV of 40-50% for equity and 70-90% for debt/hybrid funds, instant disbursal, and zero foreclosure charges.
• CRED money (Wealth Aggregation) Personal finance management and wealth visibility platform built on RBI's Account Aggregator framework (via Finvu), consolidating bank balances, mutual funds, stocks, NPS, FDs and gold into a single networth view across 18+ Indian banks.
• CRED Mint (P2P Lending) P2P lending investment product allowing CRED members to invest in loans extended to other CRED members via NDX P2P (Liquiloans) and earn monthly returns, subject to RBI P2P limits.
• CRED Garage (Vehicle Management) Vehicle management product that consolidates a user's cars and bikes in one place, tracks RC details, challans, service due dates, and provides personalized insurance and policy recommendations.
• CRED Store (Marketplace) Curated in-app e-commerce marketplace where third-party sellers list products, travel packages, and experiences, with members redeeming CRED Coins and reward points for discounts.
• CRED Max (Rent and Bill Payments) Service that allows CRED members to pay rent, recurring bills, and other expenses using their credit cards via the CRED app, with integration to the Bharat Bill Payment System.
• CRED Protect (Card Protection) Card protection and spend monitoring feature that reads emails and SMS to automatically identify billers, track credit card spends, surface hidden fees, and alert members about card-related events.

Quantifiable outcome

• Processes over 40% of India's credit card bill payments
• +13 more outcomes

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

AI capability3 records

Feature10 records

Partnerships

17 partnerships are on record, tiered core and flagship.

• IndusInd BankcoreStrategic or Co-development PartnerIndusInd Bank is CRED's partner for the co-branded CRED IndusInd Bank RuPay Credit Card, which includes IndusInd Bank's Total Protect insurance (covering lost, stolen or compromised cards up to the credit limit) and a metal card design. The card offers 5% cashback on CRED pay, store, travel and UPI spend, with rewards redeemable at 1 point = ₹1.
• Reliance Industries (Reliance)coreStrategic or Co-development PartnerReliance is Meta's data center partner in India: Meta is leasing its first AI data center in India from Reliance Industries, supported by Clean Max's renewable energy capacity. CRED benefits indirectly through Meta's deepening India infrastructure investment.
• Finvu (Account Aggregator)coreTechnology or IntegrationFinvu is CRED's Account Aggregator (AA) partner for CRED money. With member consent, Finvu consolidates financial data from the user's banks and transfers it to CRED money, which is built on RBI's account aggregator framework. CRED money currently supports 18+ Indian banks.
• MF Central (Mutual Funds Central)coreTechnology or IntegrationMF Central is the platform used by CRED to administer pledged mutual fund units for CRED cash+ (loan against mutual funds) and to integrate mutual fund data into CRED Networth. Secured MFs are pledged in favor of the lender, monitored by the lender, and managed within RBI LTV guidelines.
• National Payments Corporation of India (NPCI)flagshipTechnology or IntegrationCRED is a NPCI-authorized Third Party App Provider (TPAP) for UPI, bound by tripartite agreements with NPCI/Axis Bank and NPCI/Yes Bank. CRED supports RuPay credit card on UPI, with NPCI-approved banks including Axis, BoB, Canara, HDFC, ICICI, Indian Bank, Kotak, PNB, Union, and Yes Bank.
• Visa and MastercardcoreTechnology or IntegrationVisa and Mastercard engineers co-designed the secure tokenization technology for CRED Tap to Pay. CRED supports VISA, MasterCard, American Express and RuPay cards for credit card bill payments.
• Google (HCE technology)coreTechnology or IntegrationGoogle's Host Card Emulation (HCE) technology powers CRED Tap to Pay, ensuring card data stays behind unbreakable vaults. Google APIs are also used elsewhere in the CRED app, with CRED stating compliance with Google's API user data policy.
• Amazon Web Services (AWS)coreTechnology or IntegrationAWS is a sub-contractor / technology service provider to CRED for Credit Products, hosting CRED data on Indian AWS servers. CRED also complies with RBI data localization rules, with all payment data stored within India.
• Dreamplug Paytech Solutions Private LimitedcoreTechnology or IntegrationDreamplug Paytech Solutions is a CRED Group Entity that acts as a sub-contractor / technology service provider for Credit Products and serves as the Payment Aggregator for CRED Pay.
• HipBar (Dreampurse Technologies Private Limited)coreStrategic or Co-development PartnerCRED acquired Chennai-based HipBar in a 100% buyout in October 2021, integrating HipBar's prepaid payment instrument (PPI) license and team into CRED. The acquisition is the foundation for the CRED Wallet PPI.
• CreditVidya (Prefr)coreStrategic or Co-development PartnerCRED acquired SaaS firm CreditVidya via cash and stock deal in November 2022, expanding into credit-embedding and financial inclusion for under-served segments. The Prefr / CreditVidya entity is also listed on CRED's 'Other Disclosures' page as a Digital Lending App with Default Loss Guarantee arrangements.
• KuveracoreStrategic or Co-development PartnerCRED acquired Kuvera, an online wealth management startup, in February 2024 to enter the mutual fund market in India. Kuvera's team joined CRED while retaining operational independence, with investors receiving shares and cash.
• Flipkart, Myntra, Zomato (CRED Store redemption partners)coreChannel Partner/ Reseller/ DistributorCRED Store members can redeem CRED reward points at 500+ CRED merchants including Flipkart, Myntra, and Zomato, at 1 point = ₹1.
• American Express, Standard Chartered, Citibank, HSBC, HDFC, ICICI, SBI, AXIS, RBL, PNB (CRED-supported billers)coreChannel Partner/ Reseller/ DistributorCRED supports credit card bill payments for these major Indian banks and card networks (American Express, Standard Chartered, Citibank, HSBC, HDFC, ICICI, SBI, AXIS, RBL, PNB) and supports VISA, MasterCard, American Express and RuPay cards.
• HDFC Bank, ICICI Bank, Axis Bank, Bank of Baroda, Bank of India, Union Bank, IDFC Bank, Federal Bank, Karur Vysya Bank, Yes Bank, Punjab National Bank, Indian Overseas Bank, UCO Bank, AU Bank, IndusInd Bank, Kotak Mahindra Bank, Karnataka Bank (CRED money supported banks)coreChannel Partner/ Reseller/ DistributorCRED money currently supports 18 banks via the RBI Account Aggregator framework. CRED is working on supporting more banks.
• Dreampurse Technologies Private Limited (CRED Wallet issuer)flagshipOEM/ Whitelabel/ Licensing PartnerDreampurse is a CRED Group Entity and RBI-authorized non-bank PPI issuer that issues the CRED Wallet on the CRED App. CRED partners with Dreampurse to allow Dreampurse to issue and operate wallets (CRED Wallet) on the CRED App; CRED is not itself issuing the PPI directly.
• Dreamplug Advisory Solutions Private Limited (DASPL)coreOEM/ Whitelabel/ Licensing PartnerDASPL is a CRED Group Entity that operates CRED Money and CRED Networth, and provides a privacy and terms overlay for those products (daspl.co.in). CRED users consent to DASPL's Terms of Use and Privacy Policy when using CRED Money/CRED Networth.

Scale indicators20 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Paytm (One97 Communications): Paytm is India's largest listed fintech super-app, offering payments (UPI, wallet), lending (Paytm Postpaid, personal loans via partners), wealth (Paytm Money), and commerce — directly comparable to CRED's multi-vertical fintech model with similar target market of digital-first Indian consumers.
• PhonePe: PhonePe is India's largest UPI payment platform and a Zolve/IndusInd-partnered full-stack fintech (payments, mutual funds, insurance, lending) — directly comparable to CRED on UPI rails, payments, and the credit-on-UPI opportunity with a similarly broad Indian consumer base.
• BharatPe: BharatPe is an Indian fintech offering merchant QR payments, lending (BharatPe Loan, Co-lending), and consumer products (Postpe BNPL) — directly comparable to CRED's payment aggregator and lending-as-LSP business, though anchored in merchants rather than creditworthy consumers.
• Mobikwik: Mobikwik is a listed Indian digital payments and fintech platform offering a PPI wallet, UPI, BNPL (Mobikwik Zip), and lending distribution — directly comparable to CRED on consumer payments, wallet, and BNPL/lending distribution through partner banks.
• Groww: Groww is India's largest listed retail investment platform (mutual funds, stocks, IPOs, F&O) and is now expanding into lending and payments — directly comparable to CRED's wealth management ambitions (CRED money, Kuvera) and the broader consumer-finance super-app trajectory.

Emerging players

• Slice (now merged with NorthEast Small Finance Bank): Slice was a credit-card-focused Indian fintech targeting young professionals with a metal card, UPI, and personal loans — overlapping with CRED's creditworthy-segment targeting and card-led product strategy before its merger with North East SFB.
• Jupiter: Jupiter is an Indian consumer neobank offering a savings account, UPI payments, bill pay, and lending products to salaried professionals — targeting a similar creditworthy demographic as CRED with a comparable app-led, single-product-suite approach.
• Uni Cards: Uni Cards is an Indian credit-card-focused fintech (with its own RBI PPI license and co-branded card partnerships) targeting young salaried consumers — overlapping with CRED's creditworthy consumer focus and co-branded RuPay credit card strategy with IndusInd Bank.
• KreditBee: KreditBee is an Indian digital lending platform offering personal loans and BNPL to salaried and self-employed consumers via partner NBFCs — overlapping with CRED's lending distribution model (CRED Cash, CRED Flash) and listed as a CRED lending partner.

Broad incumbents

• Google Pay (GPay India): Google Pay is a dominant UPI payment platform in India offered by a global Big Tech incumbent — directly comparable to CRED UPI on consumer payments rails, though lacking CRED's lending, wealth, and credit-card bill payment depth; the Meta investment in CRED also creates an indirect strategic counterweight.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/cred_club
• Facebookfacebook.com/CRED.club.official
• LinkedInlinkedin.com/company/credapp

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries6 records

Funding overview

Funding rounds12 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CRED