CRED’s Super App Revenue Stack

SUMMARY

From Kuvera, CRED Money to an enhanced billing platform, CRED has added more pieces to its super club play this year but how will these fit into the company’s revenue stack

In the past 18 months, the Kunal Shah-led startup has pushed forward on UPI payments, vehicle management and travel bookings, all of which have become critical pillars for the company from a revenue standpoint

Planning a super app and launching products is one thing, but scaling it up will be just as critical for CRED, particularly with a packed and competitive field

A few months ago, I asked a Cred executive, “How do you justify the CRED’s value-to-revenue (EV/R) multiple?”“Having registered an impressive growth last year while keeping the expenses in check, CRED is moving in the right direction by integrating more features such as Money to enrich consumers’ experience and launching better-margin products and services, such as travel, insurance and wealth management products which are expected to drive revenue and profitability,” a valuation expert told Inc42.“A PA licence enables direct payment processing, enhancing the platform’s offerings like CRED Pay and CRED RentPay. However, it comes with regulatory challenges, including strict monitoring and compliance, similar to what Paytm has undergone. In case restrictions are slapped on a business, they can impact innovations and product scope,” Abhinav Paliwal, cofounder and CEO of PayNet Systems which develops a white-label neobanking software earlier told Inc42.One senior executive at Kuvera told Inc42 optimistically, “The numbers are before the acquisition of course. You could expect a 20x+ revenue growth in the next two years.” So how do CRED and Kuvera hope to kickstart monetisation at scale?

The answer came: “Well, you have to see this in a context. It’s similar to what many fintech companies currently have.”

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