"Cred Business Model kya hai? Indian Success stories"

Rahul Dravid ko ‘Indiranagar ka Gunda’ banana se leke ‘Chacha Chaudhury’ ko FOMO dene tak, CRED alag alag baar hamare saamne aaya apne crafty campaign aur whacky ad ke zariye. Aur hum log bhi kaafi impress huye, naa sirf CRED ke creative ads se, balki uske business model se bhi. In fact, aaj ke time mai CRED is one of the most talked about startups in the country.

 

Hum sabhi log CRED ko leke kaafi curious rahe hain, right from its first ad! Toh chahilye dekhte hain ki kya hai CRED ka revenue model aur kaise ye FinTech company ne despite all odds almost 100 crore ka revenue generate kia iss financial year mai.

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Kaise Hui CRED ki shuruwaat

 

CRED ki shuruwaat ki thi serial entrepreneur Kunal Shah ne 2018 mai. Freecharge yaad hoga aapko? Kaafi baar aapne usey use bhi kiya hoga? Well, Kunal Shah ka wo pehla startup tha jisse unhone 2015 mai Snapdeal ko $400 million mai bech diya tha. Teen saal, wo khoob ghume desh, videsh aur unhone realize kiya ki kaise developed nations mai petrol pump aur shopping stores mai koi attendant ya cashier nahi hota, lekin fir bhi sab kuch ache se chalta hai.

 

Jaise ki taali ek haath se nahi bajti, unhone dekha ki log system se loyal hain kyunki system trustworthy logon ko continuously unke trustworthy behavior ke liye kuch na kuch rewards deti hain. Yun kaho toh karma points.

 

Comparatively, India mai aisa kuch nahi hota. On the contrary, yahan toh trustworthy log aksaar dusre logon ke misconduct aur dirty trick ka bhi muhafza bharte hain aur ek wakt aata hai jaahan unka behaviour bhi dheela ho jaata hai…after all, we have that ‘chalta hai’ attitude.

 

Kunal ne socha kyun na India mai bhi ek aisa frictionless environment create kiya jaayein jaahan honest, loyal aur trustworthy citizens ko bhi rewards milein – after all they deserve it.

Aur ek baar aisa ‘ecosystem’ create ho gaya, toh, for a change ache karma points ke liye bhi India mai rat race lag jayega. Toh kuch aise soch se hui CRED ki shuruwaat.

 

Ab Dekhte Hain Kya Hai CRED ka business aur revenue model?

 

Funda simple hai, jab bhi aap apna credit card bills CRED ke app par bharenge, aapko rewards ke form mai milega CRED Coins. Actually, ye reward aapko aapke ache financial behaviour par mil rahein hai – Toh agar aap apne bills time pe bharenge aapko rewards aur cashbacks dono hi milenge.

 

CRED ka ek apna exclusive community hai aur aap CRED member tab hi bann sakte hain jab aapka minimum credit score 750 ho! Agar usey kaam hua toh you cannot be a member of the CRED ecosystem.

 

Yehi reason hai ki kyun CRED itna popular hai – Well, kyunki ye logon mai ek FOMO yaani ki Fear of Missing Out waala feeling create karta hai especially for those who are not part of this community. Interestingly, ye FOMO itna strong ho gaya hai ki log actually apna credit score sudhar rahein hain taaki wo CRED Community ka hissa ban sakein aur kaafi saara rewards bhi jeet sakein.

 

Fir agar Sharmaji ka ladka CRED coin aur rewards ke wajah se ‘Holiday’ pe jayega ya fir office colleague discounted rate pe shopping pe shopping karega toh humein toh FOMO waali feeling aayegi na – Dekha kaisa ‘all for good and good for all’ waala ecosystem create kia hai CRED ne aur kuch 1300 se bhi zyada brands CRED ke partners hain, jinse ek major chunk of revenue CRED ko aata hai just for listing their products on the platform. Iske alawa CRED ke paas RentPay, Mint, Stash jaise features hain jisse who chotta sa commission bhi kama tha hai.

 

Interesting, isn’t it?

 

Ab Jaante Hain, Kaun Hain CRED ke funders? Aur Ab Tak Kitna Paisa Investors ne Iss mai lagaya hai?

 

Well, Company expansion phase mai hai aur 2018 se leke till date kaafi national aur international investors ne apna paisa daala hai CRED mai. Crunchbase ke hisaab se yeh Bengaluru based company ne 8 funding rounds mai abhi tak $722.2 million raise kiye hain through 32 investors including Tiger Global, Falcon Edge Capital, Coatue Management, Insight Partners, DST Global, Marshall Wace, RTP Global, Greenoaks Capital, Sofina and recent being Dragoneer Investment Group, and Steadfast Capital Management.

 

Jee haan, CRED ek unicorn ban chuki hain.

 

Ab Aap Soch Rahe Honge ki, “Kya aap aur hum bhi CRED jaisa kuch successful model bana sakte hain?” 

 

Well, kyun nahin! Agar hum available sources se kuch aisa system ya product tayyar karein jo customer ke basic problems ko solve kar sakti hain, toh without any assumption or doubt hum ek successful business model zaroor tayyar kar sakte hain.

Isse ‘first principle’ thinking bhi kehte hain jahan startup ka aim hota hai kuch aisa product banana jiss-se customer ka basic problem dur ho jaye. Ye concept Aristotle ka hai aur isse scientist approach bhi kaha jaata hai, jise aaj ke era mai Elon Musk kaafi popularize kar rahein hain. The goal is to reverse engineer every step and question everything in between.

 

Toh kya aap ready hain ek successful business startup model banana ke liye? Nahi toh fir Chacha Chaudhury ke tarah kahin aap bhi naa kahein, “Wakt badal gaya kahin ka na raha, tez tha kabhi peeche reh gaya!”

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