Just 2-3 days back somebody was boasting off here only that cred has never laid off!

Focus on the part "Rumour" before being so happy 🫠

Software Test - QA

Software Engineer

Has anyone read the morning context article on CRED? Apparently they have an another year of runway left at current burn rate.

Software Developer

Market and news media has been reporting that CRED is scaling up revenues and building huge loanbook, but seems like they are also now laying off people. Why?

Welcome to Indian Startups's Private Community

Hearing rumours about CRED layoffs

Product Manager

Hearing rumours about CRED layoffs- Grapevine

Why hasn't Cred laid off despite their massive losses? Looks like VC pressure doesn't apply to certain people.

No layoffs at Cred?

Analyst

https://inc42.com/buzz/exclusive-cred-owned-happay-trims-35-workforce/amp/

CRED-owned Happay layoffs 35% of its workforce

UX/UI Designer

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves.

Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? 

I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?

Cred

I feel cred is doomed and just trying to increase its value. 
 And the end goal is to sell the cred to someone with higher value and make money.

Given the current funding winter and companies are now chasing profitability metrics, how is CRED’s future looking given they are more focused on experience and experience and there doesn’t seem to be a big monetisation play and more gimmick.

Need some insights to make a decision for job offer

How is CRED doing ?

Corporate Strategist

Pretty much the title. No layoffs , crazy high salaries. Too much being spent on pretentious "organic" marketing.

How is CRED not collapsing?

Business Analyst

Welcome to Software Engineers's Private Community

Have 1st round of interview next week, wanted to know the level and nature of questions along with the complexity?

Can anyone provide CRED interview experience for Lead Engineer?

Computer Operator

From CRED to PhonePe to all others, are you guys seeing your company making any money or  path to profitability?

Zerodha guys, please don’t talk 🙅‍♂️

Fintech guys, is your startup making money

Founder

Welcome to Office Gossip's Private Community

Hearing another mass layoffs on the cards at a fintech startup that is into lending, insurance and mutual funds in Bengaluru, which had laid off about 20% in June last year !

Another Mass Layoff on the cards...

Systems Architect

- So after raising millions of dollars for "innovating in fintech", CRED has decided to get into the centuries old business of lending 

- The main company has burnt investor money mainly to build out distribution but no product. 

- Now when they decided to get into lending, Kunal Shah acquired an NBFC where he personally owns approx 80% stake and CRED owns 20% 

- Through this NBFC, CRED gives out their loans on BNPL products. Now Kunal Shah wants to slowly sell the rest of his stake to the main company CRED

- Except the NBFC is worthless without CRED's distribution. And CRED is worth a lot less without any product and Kunal Shah holds only 12% equity in the main cash-burning loss-making company after all those dilutions in funding rounds. 

- By making CRED acquire this NBFC at inflated valuations where he owns majority stake, he's gonna personally cash out once again while CRED will still have a long journey ahead of them. 

How are the CRED investors ok with this?

Do you guys know about CRED & Newtap Technologies (NBFC)?

Real Estate

Welcome to Product Managers's Private Community

How's the culture in Cred? Especially in Product/Data teams? And where are they from layoff standpoint?

Culture at Cred

BYJUs, Dunzo are dead. Which unicorn will tumble next?

Program Manager

- Are these guys on the path to profitability now? What do they even do? Just sell loans and insurance to rich people who won't fall for that shit anyway? What's their edge over the hundreds of other companies already doing that?

- How much are they burning now? How much runway do they have?

- Cuz everyone abuses their CRED coins and calls them worthless.

- Most importantly, I'm sick of seeing Kunal Shah's smug dp pop up on my Twitter everyday with some new gyan while it's unclear what he even does

What's the deal with CRED?

Is this true?

Their consumer lending app has been pretty much shut for a while and tough competition fused with frequent management diktats seems to indicate that this might be true.

Silent layoffs - BharatPe

Heard from a friend that their team is seeing possible layoffs of 30-40% of people. Is this credible across smallcase or just their team?

Hearing rumours about CRED layoffs

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