CRED
Funding History
| Series B · 08/2019 | $450M |
|---|---|
| Series C · 11/2020 | $806M |
| Series D · 04/2021 | $2.2B |
| Series E · 10/2021 | $4.0B |
| Series F · 06/2022 | $6.4B |
| Series G · 06/2025 | $3.5B |
| Strategic Investment (Meta Platforms) · 06/2026 | $4.5B |
About
CRED is a members-only fintech app operated by Dreamplug Technologies Private Limited, headquartered in Bengaluru, India.
- founded
- 2018
- headquarters
- Bengaluru, Karnataka, India
- lastDisclosedValuation
- $4.5B (Meta Platforms strategic investment, 06/2026)
- totalDisclosedFundingRaised
- $1.41B (sum of individually disclosed PRIMARY rounds above; excludes the ~$4M 2019 bridge financing described in milestones, and excludes the ~$400M secondary-share component of the June 2026 Meta transaction, which did not raise new primary capital for the company)
Overview
CRED was founded in 2018 by Kunal Shah, a serial fintech entrepreneur who had previously built and sold the mobile-recharge platform FreeCharge. The company operates under the legal entity Dreamplug Technologies Private Limited and is headquartered in Bengaluru, Karnataka, India.
The core CRED app is built around a members-only model: users with a credit score of 750 or higher can join, pay their credit card bills through the app, and earn rewards points ('CRED coins') redeemable with partner brands. Over time CRED broadened into adjacent financial products including short-term lending (CRED Cash, CRED Mint), a buy-now-pay-later offering (CRED Flash), an investing hub (CRED Money, built in part on its February 2024 acquisition of the wealth platform Kuvera), insurance distribution, and co-branded/UPI payment products; its group entity Dreamplug Paytech Solutions Private Limited received RBI authorization as a payment aggregator in March 2026.
In June 2026, Meta Platforms invested $900 million in CRED at an approximate $4.5 billion post-money valuation, and simultaneously recruited founder Kunal Shah to become Meta's global head of WhatsApp, succeeding longtime WhatsApp chief Will Cathcart. Shah resigned from CRED's board and converted his roughly 11% promoter stake into ordinary public shareholding, stepping back from day-to-day operations while retaining an estimated 20% economic ownership (directly and through his family investment vehicle, QED Innovation Labs LLP). Miten Sampat, who had led CRED's strategy and finance function since October 2020, was named interim chief executive effective the same day.
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