FreeCharge Founder Kunal Shah Rolls Out a New Venture Cred
Kunal Shah, the founder of digital payment company FreeCharge has rolled out his own new venture known as Cred which is a financial services platform targeting consumers with high creditworthiness.
For the launch of this startup, the founder has already raised an amount of $25 million (about Rs 177 crore) in funding led by Sequoia Capital and financial technology-focussed fund Ribbit Capital.
With this new startup, the consumers will be able to pay their credit card bills and get rewarded in the form of Cred Coins. The basic idea behind this new venture is to tap into the country’s growing credit card base and push products to consumers with high credit scores and offer to them rewards and benefits.
“There is a lot of lack of awareness around credit card payments among a majority of...