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 🙅♂️
My present company posted 350 cr in profits! A fintech 🤣
Name! NAMMEEEE…… 🗣️
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
Btw....how does CRED make money again ? Very confused about their business model.
Can someone here shed some light on this ?
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.
Cred is on track to do 1600 cr in revenue. Apparently close to being profitable
How does cred make money mostly?
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
