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What will be Cred's valuation by the end of FY25?
3
Resolution / Starting Odds
Less than $6 billion • 25%
$6 billion to $7 billion • 25%
$7 billion to $8 billion • 25%
More than $8 billion • 25%
Cred's official financial report or credible financial news sources
Story
Cred Reports 66% Surge to $295 Million in FY24 Revenue
Sep 30, 2024, 10:10 AM
Cred, a reward-based payments platform, reported a 66% surge in revenue to Rs 2,473 crore ($295 million) for FY24. Despite this growth, Cred's overall losses increased by 22% to Rs 1,644 crore. However, the company managed to reduce its operating losses by 41% to Rs 609 crore. Cred's total payments volume also rose by 55% year-on-year to Rs 6.8 lakh crore. The company's revenue growth was driven by its lending, payments, and insurance businesses, with a valuation of $6.4 billion, equivalent to 21 times its revenue.
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