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Fintech guys, is your startup making money

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 🙅‍♂️

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FrillyCrab4

Leap Scholar

a year ago

My present company posted 350 cr in profits! A fintech 🤣
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SuperSaiyanGoku

Stealth

a year ago

Name! NAMMEEEE…… 🗣️
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FrillyCrab4

Leap Scholar

a year ago

I don't want to rat myself out as my colleagues also use the app but all I will say is this: one of the only ways to make money in fintech is lending. And lending is a high friction, highly operational and high risk business, the reason most fintechs went to the dogs were because they were more focused on making cool seamless products and not a profitable business. In lending very often the two are at loggerheads
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ObtuseCutie

Stealth

a year ago

Btw....how does CRED make money again ? Very confused about their business model. Can someone here shed some light on this ?
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SuperSaiyanGoku

Stealth

a year ago

I will tell you but don’t let them know…. Basically they just don’t make money 🤧
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Smartfella

Stealth

a year ago

All fintechs ultimately lend money or sell leads to lenders/insurers.
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LoveDeathRobots

Adobe

a year ago

As the founders of my last company (in fintech) put it "We can be profitable if we want to." but "we are prioritising growth right now". Reality: active users are decreasing and are 1/4th of the peak a year back.
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SuperSaiyanGoku

Stealth

a year ago

What does it do? Credit or investments?
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LoveDeathRobots

Adobe

a year ago

Investments - stock market, MFs
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AmusedPM

Flipkart

a year ago

Cred makes $10M every time it changes it’s UI plus 1M bonus for every 1000 epilepsies induced in users through its animations and flashing lights
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SuperSaiyanGoku

Stealth

a year ago

Business must be booming 💥
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NoDPI420

Stealth

a year ago

Cred is on track to do 1600 cr in revenue. Apparently close to being profitable
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SuperSaiyanGoku

Stealth

a year ago

How does cred make money mostly?
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NoDPI420

Stealth

a year ago

They originate loans, mostly financed by other third party lenders. Cred gets a take rate on it. Their payments vertical - rent, UPI etc is also growing rapidly. I think that their commerce vertical too has potential. It's a different experience from Amazon because here I can discover a lot of new brands - though I don't think they monetize it seriously yet. All in all, it's a company with solid business potential if they keep executing well
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LoveDeathRobots

Adobe

a year ago

I left them in May.
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https://getpocket.money

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