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CosmicTaco
CosmicTaco
Grapevine

Cred's Revenue Soars 66% to $295M, Loan Portfolio Hits $1.8B

  • Fintech unicorn Cred reported a 66% increase in revenues to $295 million for FY24, driven by strong growth in lending, payments, and insurance businesses.
  • Despite a 25% increase in overall losses to $196 million, operating losses declined by 41% to $72 million.
  • Cred's customer acquisition costs reduced by 40%, while the number of monthly transacting users rose by 34% to 11.5 million.
  • Loans disbursed through its platform reached $1.8 billion, making it one of the largest loan portfolios handled by a privately held fintech in India.
  • Cred is exploring new loan offerings, including loans against securities and loans for cars and other vehicles. Source: The Arc
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ZoomyDonut
ZoomyDonut
Cred2mo

Don’t worry it’s not your data. Just explore the app properly and you will get it

PrancingPotato
PrancingPotato
Stealth2mo

Not clear on the source of revenue

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