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Kunal Shah to launch his new venture - Cred

Kunal Shah, former Freecharge co-founder has announced about his new venture - Cred on Facebook. Cred is meant for the top-tier working professionals who have a yearly income of over Rs 15, 00,000 and CIBIL score of 700-750. Shah has announced his venture both on Twitter and Facebook.

 

Cred users can pay their credit card bills through the app and in return they will get Cred Coins that can be redeemed while availing lifestyle services and products. Cred will be based on a subscription model and users will have access to services and products. So it is partnering with many lifestyle high-end brands and service providers to offer services to users.

 

Many Freecharge employees have joined Cred. Shah has already raised $30 million from a group of investors led by venture capital firm Sequoia Capital for the new venture.

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