Credit card payments platform CRED has been the cynosure of all within the startup ecosystem after raising successive funding rounds and being valued at over $4 billion within three years of operations.
While there’s much speculation about CRED’s business model in the ecosystem, it has unveiled multiple revenue verticals including its e-commerce platform, peer-to-peer lending, and house rental payments over the past year and more.
After recording revenue of only Rs 52 lakh during FY20, CRED had projected operating revenues of around Rs 108 crore for FY21 at the end of the previous fiscal (April 2021).
The company has finally revealed its annual financial statements and Fintrackr has analyzed the numbers to understand how the new revenue drivers worked out for the fintech unicorn during the fiscal year ending March 2021.