The coding platform Tynker and the children’s learning platform Epic, two American assets of the struggling edtech company Byju’s, were sold for a small portion of what the company had spent for them.
According to a media report, both sales were allowed by a US bankruptcy court at a hearing on May 20.
Tynker was purchased by computer science education startup CodeHS for $2.2 million in cash, which is a substantial decrease from the $200 million Byju’s paid in 2021 in a cash-and-stock transaction to acquire it.
China’s TAL Education Group has purchased Epic for $95 million. Byju’s purchased Epic in 2022 for $500 million in cash and stock.
Lenders Initiated Bankruptcy Proceedings Against Epic, Tynker and Osmo
Some members of the consortium who borrowed $1.2 billion to Byju’s reportedly petitioned a US court to begin bankruptcy proceedings against Epic, Tynker, and Osmo in June 2024, according to a media house report.
The lenders sued Raveendran, his wife Divya Gokulnath, and former business executive Anita Kishore in the United States on April 10. The three were accused in the case of conspiring to conceal and embezzle $533 million from the funds they had given to Byju’s Alpha, a special purpose financing vehicle the edtech business set up in the US to accept the loan.
Before this, a Delaware Bankruptcy Court decision found that there had been several thefts and fraudulent transfers. The lenders claim that the court also determined that Riju Raveendran, a suspended director of Byju’s Alpha Inc., had breached his fiduciary duties as a director of the US company.
Raveendran Brothers Moved to NCLT and NCLAT in India
In India, the Raveendran brothers have petitioned the NCLT and the NCLAT for the removal of the resolution professional and a stay on the committee of creditors (CoC).
This action follows actions taken by Think & Learn’s resolution professional to halt several court cases in a New York court. Concerns have also been voiced regarding the company’s continuous asset sales.
After the coaching centre operator changed its articles of association (AoA) to eliminate the reserved rights of minority investors by implementing the resolutions passed at an extraordinary general meeting (EGM) last November, Think & Learn, represented by the RP, has further claimed that its ownership stake in Aakash is being diluted.
The board of the massive D2C e-commerce company Meesho has authorised the company’s transformation into a public company in preparation for an IPO.
In an extraordinary general meeting on June 5, the board of Meesho passed a special resolution to change the company’s name from “Meesho Private Limited” to “Meesho Limited”, according to the startup’s MCA filing.
According to the petition, the conversion will provide Meesho more freedom to pursue access to the capital market and bring its corporate structure into compliance with the legal requirements for a business looking to go public.
According to the filing, the firm intends to remain prepared from a regulatory and compliance standpoint to facilitate such an offering when judged appropriate, even if the board has not yet authorised or started the IPO process.
In order to harmonise corporate and brand identity, the company rebranded its parent corporation more than a month ago.
Meesho Unveils INR 411 Cr Bonus Share Plan Ahead of IPO
A plan to issue 411.4 Cr bonus shares has been authorised by Meesho’s shareholders before the e-commerce giant files its draft red herring prospectus (DRHP) with SEBI, the market regulator.
The proposal to issue bonus shares of INR 1 each to equity owners in a 47:1 ratio was accepted by the members at an extraordinary general meeting on May 31, according to the company’s MCA filings.
The filing stated that the board of directors has been given the members’ consent to issue 411.4 Cr bonus equity shares worth INR 1 each, which will be credited as fully paid-up shares to the holders of the company’s existing equity shares.
The company’s paid-up share capital will rise from INR 8.7 Cr to INR 420.1 Cr after the allocation. Tiger Global Management, Peak XV Partners, Prosus, Meta, and Think Investments are among the backers of the Bengaluru-based e-commerce giant.
Meesho’s IPO Preparations
By the end of 2025, the e-commerce giant is reportedly hoping to generate up to $1 billion through its first public offering (IPO). For its initial public offering (IPO), the startup has selected Morgan Stanley, Kotak Mahindra, and Citi as its bankers.
According to reports, the investors suggested valuing the public offering at $10 billion. In order to improve brand memory among its stakeholders prior to its eventual stock market offering, the business rebranded its parent corporation from Fashnear Technologies Private Limited to Meesho Private Limited last month.
Similar actions have previously been taken by consumer services titan Swiggy, fintech unicorn Moneyview, and fast commerce startup Zepto. Meesho was first established in 2015 as a social commerce firm by Vidit Aatrey and Sanjeev Barnwal. In 2022, though, it switched to a marketplace model in order to compete with Amazon and Flipkart.
The well-liked Indian Premier League (IPL) team Royal Challengers Bengaluru (RCB) might soon have a new owner.
According to a media report, Diageo Plc, the British corporation that controls RCB through United Spirits Ltd., its Indian subsidiary, is looking into selling all or a portion of its franchise.
A person cited in the report claim that Diageo has begun preliminary discussions with advisors and is amenable to a variety of options, including a full sale.
This development comes soon after RCB registered its first IPL trophy in eighteen years (Winners of IPL 2025). Although the business hasn’t decided yet, it may consider paying up to $2 billion for the club. No concrete action has been taken thus far, and these conversations are still confidential.
New Business Strategy by Diageo Plc
According to the report, Diageo might be considering its ownership’s future as part of a broader plan to streamline its international operations. Diageo has experienced pressure on spirits sales in the US, its largest market, as a result of tariffs and a decline in consumer demand for high-end alcohol goods.
RCB may be able to raise money and return its attention to its main business by selling a portion of the corporation. Growing government pressure could be another factor.
The health ministry has been advocating for the prohibition of the indirect promotion of tobacco and alcohol goods during sporting events such as the Indian Premier League.
Companies like Diageo have used famous cricket players to market soft drink brands like soda, despite the fact that direct advertisements for such items are already prohibited.
Companies who utilise cricket to reach customers may see a decline in brand visibility if more stringent regulations are implemented.
The Legacy of RCB and the IPL
Vijay Mallya, a prominent figure in India’s spirits sector and the owner of Kingfisher Airlines at the time, first purchased RCB. Following the demise of Mallya’s economic empire, Diageo acquired United Spirits, which allowed them to take over RCB.
Thanks in large part to Kohli and other well-known players like AB de Villiers and Faf du Plessis, RCB has grown into one of the most talked-about IPL teams throughout the years. The IPL is more than simply a cricket competition anymore.
With a large global audience and significant advertising interest, it has grown to become one of the most valuable sports leagues in the world. It is ideal for digital and broadcast platforms due to its three-hour match format.
A hefty price for RCB’s sale might establish a new benchmark for future IPL franchise valuations. According to reports, the IPL is on par with major sports leagues such as the English Premier League in the UK and the National Football League (NFL) in the US.
On June 9, Qualcomm Incorporated declared that it had reached a deal with Alphawave IP Group plc about the terms and conditions of a suggested acquisition of all of Alphawave Semi’s issued and to be issued ordinary share capital by Aqua Acquisition Sub LLC, an indirect wholly-owned subsidiary of Qualcomm Incorporated, at an implied enterprise value of roughly US$2.4 billion.
Qualcomm’s growth into data centres is intended to be further accelerated and supported by the acquisition of Alphawave Semi. The rapid rise in AI inferencing and the shift to bespoke CPUs in data centres are driving the need for high-performance, low-power computing, which Qualcomm’s Oryon CPU and Hexagon NPU processors are well-positioned to satisfy.
Acquisition to Complete in the First Quarter of 2026
According to the announcement made in compliance with Rule 2.7 of the UK Takeover Code, this acquisition of Alphawave Semi is anticipated to be finalised in the first calendar quarter of 2026, provided that certain conditions are met or waived (where applicable).
These conditions include, among other things, regulatory approvals, the consent of the required majority of Alphawave Semi’s shareholders, and UK High Court sanction.
Impressive Product range of Alphawave Semi
Providing intellectual property, custom silicon, connectivity devices, and chiplets that promote quicker, more dependable data transfer with improved performance and reduced power consumption, Alphawave Semi is a world pioneer in high-speed wired connectivity and computation technologies.
Products from Alphawave Semi are a component of the core infrastructure that makes next-generation services possible in a variety of high-growth applications, such as data centres, artificial intelligence, networking, and storage.
Under Tony’s direction, Alphawave Semi has created cutting-edge high-speed wired networking and computation technologies that complement our power-efficient CPU and NPU cores, according to Cristiano Amon, president and CEO of Qualcomm Incorporated.
Workloads in data centres are a perfect fit for Qualcomm’s cutting-edge proprietary processors. Building cutting-edge technological solutions and enabling next-level linked computing performance across a variety of high-growth domains, including data centre infrastructure, is the shared objective of the merged teams.
Tony Pialis, president and CEO of Alphawave Semi, provided more insight on the acquisition, stating that Qualcomm’s purchase of Alphawave Semi marks a noteworthy turning point for the company and a chance to collaborate with a reputable industry leader while adding value for its clients.
The company will be in a strong position to increase our technological capabilities, access a wider consumer base, and broaden our product offerings by integrating Qualcomm’s resources and experience. Together, Qualcomm will spur innovation, open up new business prospects, and establish itself as a major force in AI compute and networking solutions.
The question of whether artificial intelligence will eventually replace human programmers has been discussed a lot lately. However, Google CEO Sundar Pichai claims that AI isn’t going to replace developers anytime soon; on the contrary, it’s doing the exact opposite.
Pichai recently stated in an interview with the Lex Fridman Podcast that artificial intelligence (AI) is meant to assist software engineers, not to take their jobs. According to him, artificial intelligence (AI) is a potent helper that may increase coding professionals’ creativity and productivity.
Pichai underlined that AI programming is more about teamwork than rivalry. He clarified, “It’s about improving the capabilities of human coders.” Programmers are supposed to be able to accomplish more work more quickly and concentrate on higher-level thinking with AI tools for developers.
Although there are legitimate worries about how automation could impact employment, Pichai thinks the reality of the present and the near future is different. AI-assisted coding, in his opinion, is a tool to make programmers more productive rather than a replacement.
AI Helping Coders of Google
Surprisingly, Pichai revealed that approximately 30% of Google’s code currently incorporates some form of AI-generated input. Things are already moving more quickly thanks to tools like Google’s own AI-powered development helpers.
More significantly, he stated that the true victory lies in the speed at which teams are moving. “How much our engineering velocity has increased due to AI is the most important metric, and we measure this carefully,” he stated.
A significant 10% increase in output without sacrificing quality. Even if AI is becoming more prevalent in coding, Pichai stated that Google intends to increase its number of software developers in the upcoming year.
That might come as a surprise, but it demonstrates how AI is creating more opportunities rather than reducing them.
According to Pichai, “The opportunity space of what we can do is expanding too.” AI for developers is not taking the place of occupations; rather, it is freeing up time for more creative tasks like idea generation, issue solving, and brainstorming.
AI Enhancing Creativity
The broader picture of how AI might democratise creativity in the computer industry was another topic Pichai covered.
More people, including non-traditional programmers, can build, code, and innovate if tools are made more intelligent and easily available.
He claimed that it would provide more individuals access to creative power. A new wave of innovative software development, more cooperative engineering teams, and a wider variety of coding assignments could result from this.
This change is exemplified by platforms such as MagicShot.ai, which enable individuals to use AI to boost productivity, automate processes, and realise innovative ideas without requiring extensive technical knowledge.
Hours after revealing its new software at the Worldwide Developers Conference (WWDC) 2025 in California, Apple has made the iOS 26 developer beta update available.
‘Liquid Glass’ is a new UI design language that Apple has included in its developer beta to allow app developers to improve their apps before the software’s final release. This is the largest change. Given that it is beta software, there may be glitches, and the program itself may feel shaky, particularly in the early iterations.
Therefore, installing beta software is not recommended for users that use the device on a daily basis, as per various tech experts. To utilise it on Apple devices, wait for the official launch.
How Liquid Glass Works?
Apple’s latest design interface language, Liquid Glass, is translucent and acts like glass in real life. It cleverly adjusts its hue to light and dark conditions based on the material around it.
Buttons, switches, sliders, text, tab bars, and sidebars for app navigation are just a few of the tiny elements that users interact with, according to Apple’s statement on 10 June.
Notably, the updated design is compatible with iOS 26, iPadOS 26, macOS Tahoe 26, watchOS 26, and tvOS 26 for the first time.
Refining iPhone Experience Through Apple Intelligence
The iPhone experience is improved by Apple Intelligence, which also makes it easier for consumers to complete tasks and opens up new ways to interact with the screen.
Messages, FaceTime, and Phone all have live translation built in to facilitate multilingual communication by instantly translating text and audio. Apple-built models that operate fully on the device enable live translation, ensuring that customers’ private chats remain private.
Visual intelligence expands on Apple Intelligence by enabling users to search and interact with everything they see across apps on their iPhone screen.
Users can search Google, Etsy, or other compatible apps to find related images and products, or they can ask ChatGPT questions about what they’re seeing onscreen to find out more.
Additionally, visual intelligence may identify when a user is viewing an event and recommend that they add it to their calendar, updating important information such as the date, time, and location.
Users may express themselves in even more ways with Genmoji and Image Playground, such as by combining their favourite emoji, Genmoji, and descriptions to create original content. These days, shortcuts are smarter and more potent than before.
In addition to seeing specific actions for features like Writing Tools and Image Playground, users may access intelligent actions, a whole new set of shortcuts made possible by Apple Intelligence.
Users can now view their complete order details and progress notifications in one location, even for transactions made outside of Apple Pay, thanks to Apple Intelligence’s ability to automatically recognise and compile order tracking information from emails received by delivery carriers and merchants.
Furthermore, any app can now directly access the on-device foundation model at the heart of Apple Intelligence thanks to a new Foundation Models framework. This gives developers access to powerful intelligence that is quick, built with privacy at its core, and accessible offline through free AI inference.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
The concept of credit is not new. People have been opting for credit since time immemorial. Credit is crucial when our capital cannot support certain investments, and credit cards have certainly made them easy to avail. However, paying the credit card bills is a priority and equally difficult to manage. This is why CRED decided to come forth with the unique idea of a platform that will help Indians pay their credit card bills on time and also offer them instant offers and rewards for the same.
CRED is a fintech company headquartered in Bengaluru, which allows its users to make credit card payments through its app and get exclusive offers and other benefits online. Furthermore, CRED has also introduced house rent payment options, Rent Pay; flexible credit lines, CRED Cash; and CRED Mint, with which the lenders can lend their idle money to borrowers who exhibit decent credit scores at interests of around 9% per annum.
Learn more about the CRED startup story, its founder, history, tagline, logo, business model, revenue model, funding, competitors, and more.
CRED allows credit card users to pay their credit card bills through its platform and extends rewards for each transaction. The fintech platform also lets users make their house rent payments and avail all the benefits of the short-term credit lines that the app now offers. The CRED headquarters is in Bangalore.
The company takes the utmost care in protecting the data and user information. Hence, the app is completely safe and secure. Kunal Shah is the founder of CRED. He founded the company in 2018 and often describes CRED as a TrustTech company, not a Fintech. This is because his initial motivation to start CRED came from solving trust issues in Indian society, which, according to him, is the key to economic prosperity. The CRED founder, Kunal Shah, is a well-known face in the startup ecosystem who has already funded numerous startups.
CRED – Startup Story
The Cred story was very simple. The goal was to create a platform where life could be made better and systematic. Kunal Shah wanted to offer more privileges and benefits to people with good credit scores. Therefore, creating a flywheel effect for more people was important to improve the scores.
Everybody, from the startups to the government, has focused on the masses. The founder of the company wanted to focus specifically on the people, the responsible citizens who pay taxes on time. He felt that nobody had solved their problems earlier.
‘If you look at history, nobody has been rewarded for paying back on time. We want to fix that.’
Therefore, CRED was founded primarily to solve the problems of the taxpayers and reward them with attractive rewards in return.
CRED – Founder and Team
Kunal Shah
Kunal Shah, Founder and CEO of CRED
Kunal Shah is the founder and CEO of CRED. He is an Indian entrepreneur who is credited for launching new ventures for a second time. Kunal was a Philosophy graduate from Wilson College and later went on to pursue an MBA from the Narsee Monjee Institute of Management Studies, but he dropped the course midway to chase his dreams as an entrepreneur.
Kunal started his entrepreneurial journey with PaisaBack, a website for cashback, coupons, and other offers for users, along with Sandeep Tandon. However, he eventually shut down its operations in order to found FreeCharge, which the duo founded in 2010.
FreeCharge was acquired by Snapdeal in April 2015, but the company still continued as an independent entity led by Shah. CRED was founded in 2018 and successfully turned unicorn on April 6, 2021. FreeCharge, on the other hand, was acquired by Axis Bank in July 2017. Here’s looking at the FreeCharge business model and how it makes money through it.
Kunal Shah was born in Mumbai in 1983. His hobbies include playing chess and poker. He loves munching on chips and guacamole. He loves the ideology of Socrates and the plays of G.B. Shaw.
CRED app – The CRED app is a neat-looking, beautifully designed app that users can visit if they want to go through the offers that are available after they pay their credit card bills. They can easily sign up on the app and view all the offers that they can avail of.
Businesses that provide offers on the app – The users of CRED can also find a wide range of offers from numerous businesses. For this, CRED brings businesses on board and collaborates with them. Along with benefitting CRED and its customers, who can avail of the exclusive offers provided by the businesses, it is also a win-win situation for the companies. This is because they also hugely benefit from the visibility they get.
Users who pay their credit card bills – CRED also serves as a smooth and rewarding platform for the users who use it to pay their credit card bills. In comparison to banking or other apps, end-users can choose CRED as an app to pay their credit card bills and get numerous offers and benefits. On the other hand, the users who like the app also share CRED with their family and friends.
CRED Mint – CRED disclosed its new feature, CRED Mint, on August 20, 2021, which is designed as a peer-to-peer lending platform that will help CRED users lend their idle money to creditworthy members. It is a rather transparent process that only allows the trustworthy CRED members boasting of a minimal credit score of 750 or higher to be the borrowers. Furthermore, the lenders can also withdraw their money whenever they want, with the interest that they have accumulated for the period.
There are 2 prominent ways via which CRED makes money,
Listing products and offers – CRED, as we know, lists an array of products and offers that benefit its users from a range of businesses. These businesses, in turn, pay CRED a fee for their visibility. Every time a user avails of the offers, CRED generates an income through it.
Using the financial data of the users, CRED accumulates the financial data from the users who use the platform for paying their bills and more. Along with providing CRED with the opportunity to introduce more offers to their users using these data, CRED also has other banks and financial institutions that pay them a fee for accessing these data. These companies, banks, and financial institutions would eventually approach the potential customers with their own set of products aligned to their tastes.
CRED has revealed that it does not charge any fees for the credit card payment options that it offers via its app. The company instead earns its revenues from the ancillary services it provides with the help of its technology and distribution platform.
CRED – Funding and Investors
Here’s a look at the CRED funding rounds:
Date
Transaction Name
Money Raised
Lead Investors
June 9, 2025
$72 million
Lathe Investment, RTP Global, Sofina Ventures, QED Innovation Labs
June 9, 2022
Series F
$80 million
GIC, Sofina, Alpha Wave and DF International
April 8, 2022
Venture Round
$200 million
GIC
October 19, 2021
Series E
$251 million
Tiger GLobal and Falcon Edge
April 6, 2021
Series D
$215 million
Coatue, Falcon Edge Capital and others
January 1, 2021
Post-IPO Secondary Round
–
–
November 30, 2020
Series C
$81 million
DST Global
July 26, 2019
Series B
$120 million
Gemini Investments, Ribbit Capital and Sequoia Capital India
April 16, 2019
Series A
$24 million
–
January 1, 2019
Seed Round
–
Rainmatter Technology
November 6, 2018
Seed Round
$30 million
Sequoia Capital India
CRED – Shareholding
CRED Shareholding Pattern as of March 2025
Here is CRED’s shareholding pattern as of March 2025, sourced from Tracxn:
CRED Shareholders
Percentage
Kunal Shah
10.8%
QED Innovation Labs
9.6%
Sequoia Capital
9.3%
Ribbit Capital
8.1%
Tiger Global Management
5.8%
Gemini Investment Management
4.8%
DST Global
4.5%
Alpha Wave Global
4.7%
Coatue
4.0%
Hillhouse Capital Group
2.0%
RTP Global
2.5%
General Catalyst
1.6%
Sofina
1.5%
Greenoaks
1.5%
GIC
0.9%
Prime Venture Partners
0.8%
Dragoneer Investment Group
0.8%
Insight Luxembourg
0.5%
Axiom Asia
0.2%
Marshall Wace
0.2%
Kalaari Capital
0.2%
Dream Duo
0.2%
Rise Global Capital
0.2%
Matrix Partners India
0.2%
SciFi
0.1%
Whiteboard Capital
< 0.1%
Rainmatter
< 0.1%
Greyhound Capital Management
< 0.1%
Bharat Innovation Fund
< 0.1%
Reddy Futures
< 0.1%
Venture Highway
< 0.1%
Future Shape
< 0.1%
Rajaram Family Trust
< 0.1%
Zarringhalam Ventures
< 0.1%
Mission Holdings
< 0.1%
Meridian Fund
< 0.1%
Cupola Venture Opportunites l
< 0.1%
Alteria Capital
< 0.1%
Valiant Capital Partners
–
ReDefine Capital Partners
–
Credence Partners
–
Ganesh Ventures
–
eWTP Capital
–
The Chatterjee Family Revocable Trust
–
AME Cloud Ventures
–
CRED
0.8%
Anxa Holding
0.6%
MVision
0.6%
GRACE software
0.3%
SFSPVI
0.2%
Stak3 International
0.2%
Spenny
< 0.1%
Strategic Asset Management
< 0.1%
Ra Hospitality
< 0.1%
Kuber Technologes
–
SF Roofdeck Capital
–
Angel
0.2%
Other People
1.3%
ESOP Pool
20.4%
Total
100.0%
CRED – Acquisitions
CRED has acquired five companies to date: Hipbar, Happay, smallcase, and Spenny. The recent acquisition is of Spenny on June 23, 2023.
Company Acquired
Date
Deal Value
Kuvera
February 6, 2024
–
Spenny
June 23, 2023
–
smallcase
August 2, 2022
$400 million
Happay
December 1, 2021
$180 million
HipBar
October 21, 2021
–
CRED – Growth and Revenue
CRED has shown steady growth throughout the years. Being a startup that was founded in 2018, it successfully joined the unicorn club on April 6, 2021, closing its Series D round where the company had mopped up $215 million. CRED controls “22% of all credit card payments in India every month,” said Kunal Shah in his statement released in April 2021. CRED’s valuation reached $6.5 billion in 2022 after a $200 million funding round.
Kunal Shah further took to his LinkedIn profile on July 10, 2021, and shared highlights of the milestones reached by CRED in June:
Kunal Shah shared financial progress of CRED on LinkedIn
CRED Financials
CRED saw its operating revenue grow by 71% to INR 2,397 crore in FY24, up from INR 1,400 crore the previous year.
Including other income, CRED’s total revenue increased by 66%, reaching INR 2,473 crore in FY24, compared to INR 1,484 crore in FY23.
However, despite the rise in revenue, the company’s net loss expanded by 22%, reaching INR 1,644 crore in FY24, up from INR 1,347 crore the previous year. CRED noted that its operating loss decreased by 41%, dropping to INR 609 crore from INR 1,024 crore in FY23. The company’s total operating expenditure, including one-time costs, amounted to INR 3,082 crore in FY24.
Whereas, CRED’s operating revenue has increased from INR 393.5 crore in FY22 to INR 1,400.6 crore in FY23. In terms of profit and loss, company losses increased from INR 1,279.5 crore in FY22 to INR 1,347 crore in FY23.
CRED Financials 2024
CRED Revenue Breakdown
Particulars
FY23
FY22
Revenue from Operations
INR 1,400.3 crore
INR 394.4 crore
Other Income
INR 84.4 crore
INR 28.2 crore
Total Revenue
INR 1,484.6 crore
INR 422.6 crore
Revenue more than tripled in FY23, led by a sharp increase in operational revenue from INR 394.4 crore to INR 1,400.3 crore.
CRED Profit/Loss
Losses remained high and consistent, increasing slightly from INR 1,279.6 crore in FY22 to INR 1,347.5 crore in FY23.
CRED Expenses Breakdown
The company’s total expenses rose from INR 1,702 crore in FY22 to INR 2,832 crore in FY23.
Particulars
FY23
FY22
Employee Benefit Expense
INR 788.9 crore
INR 307.6 crore
Finance Costs
INR 3.5 crore
INR 2.4 crore
Amortization & Depreciation
INR 59.4 crore
INR 14.3 crore
Other Expenses
INR 1,980.2 crore
INR 1,377.7 crore
Total Expenses
INR 2,832 crore
INR 1,702.1 crore
EBITDA
With a huge increase in EBITDA margin from -299.24% in FY22 to -86.42% in FY23, the company showed remarkable financial improvement. The ROCE increased from -42.66% in FY22 to -31.95% in FY23, demonstrating good improvement. These adjustments imply that the company’s financial performance is on the upswing.
EBITDA FY22-FY23
FY22
FY23
EBITDA Margin
-299.24%
-86.42%
Expense/₹ of Op Revenue
₹4.33
₹2.02
Roce
-42.66%
-31.95%
Quick Summary: Comparative Insights (FY23 vs FY22)
CRED introduced CRED Mint on August 20, 2021, which will serve as a peer-to-peer lending feature that can be used by the customers of CRED. CRED Mint was launched by CRED in collaboration with RBI-approved P2P Non-Banking Financial Company (NBFC), Liquiloans.
CRED Cash
CRED launched CRED Cash, a flexible credit line, in 2020. CRED Cash considers its members pre-approved for an active credit line of up to INR 5 lakhs without any documents, phone calls, forms, or physical visits.
Rent Pay
CRED launched Rent Pay in April 2020, which enables users to pay their monthly rent via credit cards.
CRED Store
CRED launched CRED Store, an eCommerce platform, which is deemed as a haven for customers with over 500 premium brands across a wide range of categories to shop from.
CRED, which was famous as a credit card bill manager, is now up with some more offerings, including mobile, DTH, and FASTtag recharge options. As per the latest reports dated April 1, 2022, the Kunal Shah-led company has launched its utility bill payments segment, with the help of which the users can now pay their utility bills, including electricity, water bills, and municipal tax, via the CRED app.
Tap to Pay Feature
With the Tap to Pay feature Android users with NFC capabilities can pay without physical cards or wallets by tapping their smartphones on merchant terminals. CRED launched this feature in February 2022.
BidBlast
BidBlast is a thrilling bidding game that CRED members can only play, and it was launched in December 2022. This will give the CRED members the excitement of bidding without using actual money by using CRED coins.
CRED Flash
CRED launched CRED flash in February 2023; with this launch, customers can make payments using BNPL products within the app and across more than 500 partner merchants.
CRED Escapes
The launch of CRED Escapes in March 2023 will provide a painstakingly designed platform with premium privileges, exclusive events, and lodging. This is consistent with CRED’s cutting-edge strategy, which offers members benefits like spa credits, hotel upgrades, and theme park admission.
P2P Payments
CRED launched a P2P payment feature in April 2023. With this feature, customers of CRED will be able to send money to other users via UPI IDs or contact numbers using P2P payment.
RuPay Credit card-based payments
In August 2023, CRED, in collaboration with NPCI in August 2023, launched Rupay credit card- based payment, and now customers can make UPI payments using their credit cards. This partnership benefits banks and merchants by increasing spending and credit sector inclusion.
Fourth Edition of AWP program
CRED launched its fourth version of the AWP (Accelerated Wealth Program), giving staff members the opportunity to purchase more ESOPs (Employee Stock Ownership Plans) with a quicker vesting period.
According to a March 15, 2024, report, this program gives employees the option to choose to have up to 50% of their pay come from special grant ESOPs. With this initiative, CRED hopes to encourage employee ownership and alignment with the company’s long-term growth trajectory while also rewarding and incentivizing staff members.
Paytm is the top competitor of CRED. It is a fintech app and payments platform that is headquartered in Noida, Uttar Pradesh, India, and was founded in 2010.
PhonePe is another notable competitor of CRED. It is also a digital payment and financial services platform headquartered in Bangalore, India, and was founded in 2015. This app has the largest market share of 50% as of December 2022.
Being a UPI platform that is a mass-volume player, Google Pay is another competitor of CRED. This digital payments platform was developed by the Search engine giant Google itself.
Amazon Pay is also a rival of CRED, which is now all set to provide diverse payment options. The online payments processing app was launched by Amazon and founded in 2007.
MobiKwik is yet another fintech company, that supports digital payment options and is a rival of CRED at the same time. It is headquartered in Gurugram, Haryana, India, and was founded in 2009.
Freecharge is also a company that CRED competes with, after the launch of its mobile bills and utility bill payment services. Originally founded by Kunal Shah and Sandeep Tandon, Freecharge is now owned by Axis Bank.
CRED allows credit card users to pay their bills through its platform and extends rewards for each transaction.The fintech platform also lets the users make their house rent payments, and also avail all the benefits of the short-term credit lines that the app now offers.
Who is CRED founder and CRED CEO?
Kunal Shah is the founder and CEO of CRED.
CRED started in which year?
Kunal Shah founded CRED in 2018.
Is CRED a fintech company?
Yes, CRED is a fintech company founded by Kunal Shah and headquartered in Bangalore.
Is CRED an Indian company?
Yes, CRED is an Indian fintech company.
How does CRED make money?
CRED earns money from listing fees that businesses pay to display their products and offers on its app – CRED collects your financial data as you use the app and continues to pay your bills to offer you better offers in the future. To gain access to this data, banks and credit card companies pay CRED.
Is CRED profitable?
CRED saw its operating revenue grow by 71% to INR 2,397 crore in FY24, up from INR 1,400 crore the previous year. Despite the rise in revenue, the company’s net loss expanded by 22%, reaching INR 1,644 crore in FY24, up from INR 1,347 crore the previous year.
How much is CRED revenue?
CRED saw its operating revenue grow by 71% to INR 2,397 crore in FY24, up from INR 1,400 crore the previous year.
What is CRED tagline?
The tagline of CRED company is Suraksha Aur Bharosa Dono.
Which is CRED parent company?
CRED doesn’t have a parent company. It is an independent fintech platform.
Today’s funding rounds reflect a balance between growth-stage bets in core sectors like defence, mobility, and fintech, and early-stage innovation in lifestyle tech. While valuations face pressure, strategic capital continues to flow into startups building strong technological foundations.
📊 Funding Roundup – 09 June 2025
Startup
Funding
Lead Investor(s)
Use of Funds / Notes
Cred
$72 M / ₹617 Cr
GIC’s Lathe Investment, RTP Global, Sofina, QED
Down‑round; valuation now ~$3.5 B; core fintech focus
Sanlayan Technologies
₹186 Cr (~$22 M)
Ashish Kacholia, Lashit Sanghvi, Jungle Ventures
Scale defence‑tech R&D and hiring; radar, EW, avionics solutions
Vecmocon Technologies
$18 M (~₹153 Cr)
Ecosystem Integrity Fund (EIF), Blume, Aavishkaar, BII
Enhance EV tech, embedded systems; global expansion
Rapido
₹125 Cr (~$15 M)
Nexus Venture Partners
Expand into food delivery and insurance services
Roomstory.ai
₹3 Cr (~$0.36 M)
Rukam Sitara Fund, Aakash Anand, Wolfpack Labs
Pre‑seed round to develop AI‑based interiors shopping platform
CRED
Fintech unicorn CRED has raised $72 million (₹617 crore) in a down‑round led by GIC’s Lathe Investment, with additional support from RTP Global, Sofina Ventures, and QED Innovation Labs (Kunal Shah’s family office). This puts its valuation at approximately $3.5 billion, almost a 45% decline from its peak, yet it signals enduring investor confidence in its core payments business.
Sanlayan Technologies
Bangalore‑based defence electronics startup Sanlayan has secured ₹186 crore (~$22 million) in a Series A round led by industrial heavyweights Ashish Kacholia, Lashit Sanghvi, and Jungle Ventures, along with Gemba Capital, Singularity, and newcomer Shastra VC. Co‑founded by ex‑Zetwerk engineers, the company focuses on radar, electronic warfare, and avionics systems — the fresh capital will boost R&D and scale up hiring of technical and defence‑domain talent.
Vecmocon Technologies
Deep‑tech startup Vecmocon, headquartered in Delhi NCR and incubated at IIT‑Delhi, has raised $18 million (~₹153 crore) in Series A funding. The round was led by Ecosystem Integrity Fund, with participation from Blume Ventures, Aavishkaar Capital, BII, and existing backers. The funds will support the development of its electric‑vehicle stack, including battery‑management systems, vehicle‑intelligence modules, and AI‑analytics, and support global expansion.
Urban mobility player Rapido is set to raise ₹125 crore (~$15 million) in its Series E round via the issuing of ~23,872 preference shares to Nexus Venture Partners at ₹52,467 each. The funding will support its foray into food delivery and insurance services — the app processed 4 million rides in one day recently, and aims to undercut commissions charged by Zomato and Swiggy.
Roomstory.ai
Interior‑tech start‑up Roomstory.ai has raised a ₹3 crore (~$360k) pre‑seed round led by Rukam Sitara Fund, with participation from Aakash Anand (Bella Vita) and Wolfpack Labs. Co‑founded by Ekatva Jain, Sahil Lunia, and Punit Jain, Roomstory.ai offers users AI‑powered interior decor inspiration with integrated e‑commerce links — “bridging the gap between browsing and buying”.
What could be more exciting than starting a retail business? India’s retail market soared to INR 82 lakh crore in 2024, nearly doubling from INR 35 lakh crore in 2014, with an impressive growth rate of over 8.9% over the past decade.
Building your brand, engaging with customers daily, and seeing your business flourish is truly rewarding. But here is a top secret: success in retail doesn’t just depend on passion or investment.
Location plays a significant role in whether you’ll see growth in a new storefront setting, so think it through strategically and rationally.
In this article, we will explore key factors like local demand, profitability, market competition, and the potential for long-term growth. In addition, you will gain a clear understanding of the best business ideas for various businesses.
10 Key Factors That Make a Retail Store Location Successful
10 Key Factors That Make a Retail Store Location Successful
Choose the Right Store Type Before Picking the Location
Before locking in a location, get clear on what you’re selling and how you plan to sell it. Your store type, whether a kiosk, convenience store, specialty boutique, or large-format outlet, directly impacts where it should be set up.
For example:
Convenience stores thrive in high-traffic, easy-access spots, near residential areas or with daily commute routes.
Kiosks work best in malls or transit hubs, but only if the products are impulse buys or quick-grab items.
Specialty stores selling curated, premium products should avoid direct competitors and focus on destination shopping zones where customers come specifically for unique finds.
Tip: Match your product type with customer shopping behaviour because the location is not one-size-fits-all!
Think Like Your Customer Before Choosing a Retail Space
Before signing that lease, step into your customer’s shoes, especially if they’ve never heard of your brand. Ask yourself:
Have I already come to this area for similar products or services?
Would I naturally pass by this location in my daily routine, or is it out of the way?
Will easy access make me more likely to drop in?
Do I prefer to see or try the product in person before buying?
These questions can reveal if your chosen spot has real customer appeal. The right retail space isn’t just about size or rent; it’s about visibility, convenience, and creating a great in-store experience.
Match your location with your product and your target customer’s lifestyle, and you are already halfway to success.
Before signing a lease, make sure you’re fully aware of local rules around signage, zoning, and urban planning. Some towns may restrict sign size, design, or placement, limiting how you advertise your store.
Visit your local council or planning office to find out what’s allowed. Also, ask about any upcoming construction or roadwork that could affect foot traffic near your shop.
Check the Rental Cost
If you plan to sell premium or luxury products, setting up a shop in an upscale area makes perfect sense, even if the rent is high. Why? Because you’re placing your brand right where your ideal customers live, work, and shop. The return can easily outweigh the cost.
But rent isn’t the only expense. Be sure to factor in all location-related costs, including:
Who handles lawn care and security?
Who’s responsible for HVAC repairs and maintenance?
Visibility and Accessibility: The Power Duo for Retail Success
The best retail shop is one that’s easy to find and easy to reach. A prime location near your target audience is a win, but don’t stop there.
Make sure the area is well-connected by public transport and has adequate parking. High visibility means your store naturally attracts foot traffic, saving you big bucks on marketing and making your presence felt without shouting.
Monitor Your Competitors
Having competitors nearby isn’t always a bad thing; in fact, it can be a strategic advantage. This approach, known as clustering, allows similar businesses in the same area to benefit from shared foot traffic and increased customer attention.
Furthermore, setting up a shop where your target audience already shops increases your chances of making sales from day one.
Local Regulations and Compliance
Before setting up shop, it’s crucial to understand local zoning laws, permits, and compliance rules. These vary by city and can affect everything from your store’s opening hours to signage and the types of products you have the right to sell.
Staying on top of these regulations ensures smooth operations and helps you avoid unexpected fines, delays, or legal roadblocks down the line.
Before putting pen to paper, carefully review your lease agreement and consider getting help from a real estate or legal expert to decode any tricky terms. If you’re confident, you can negotiate the lease yourself to secure better terms.
Key details to check include:
Rental rates
Maintenance and responsibility clauses
Lease length, security deposit, and prepaid rent
PRO TIP: If this is your first brick-and-mortar store, opting for a shorter lease term can give you flexibility as you settle in.
Safety and Security
The safety of your retail location plays a huge role in how customers perceive your store. Areas with low crime rates and a secure environment make shoppers feel comfortable and encourage them to return.
Investing in good security measures not only protects your business but also boosts customer confidence and foot traffic.
Location of Raw Materials and Amenities
When picking your retail spot, consider the practical needs of your business. Make a checklist including:
Special lighting, fixtures, or hardware requirements
Availability of restrooms for staff and customers
Proximity to reliable fire and police services
Access to sanitation and cleaning services
Shelter options, like canopies for bad weather
Any local restrictions on Sunday or holiday sales
Different Types of Retail Businesses and Best-Suited Areas
Type of Retail Business
Best-Suited Areas
Why It Works?
Mobile & Gadget Store
Near IT parks, colleges, and main roads in Tier 1 & 2 cities
High demand for electronics, accessories, and repair services
Budget Fashion Store
College zones, metro stations, and railway market areas
Price-sensitive Gen Z and working-class shoppers drive regular footfall
Organic Grocery Store
Affluent residential areas, wellness hubs
Health-conscious families and professionals are willing to pay a premium
Pet Supply Store
Gated communities, upscale localities
Pet parents seek convenience and quality products close to home
Bakery + Snacks Shop
School/college zones, marketplaces, hospitals
Daily demand and impulse buying behaviour ensure repeat footfall
Sustainable Fashion
Student areas, urban youth zones
Popular with Gen Z for eco-conscious and affordable shopping
Smart Home Accessories
High-income urban neighbourhoods, tech corridors
Smart homes trend is growing; customers prefer experiential buying
Book + Stationery Café
Near universities, coworking spaces, or artsy neighbourhoods
Aesthetic space attracts students, creatives, and remote workers
Cosmetics & Skincare Store
High-street shopping areas, malls, and salons in the vicinity
High-margin products with a repeat customer base
Home Decor & Gift Shop
Tourist spots, festive markets, upscale colonies
Seasonal sales and lifestyle buying make these areas ideal
Toys & Baby Products Store
Near schools, daycares, and residential colonies
Parents prefer buying trusted brands locally
Hardware & Electrical Store
Developing residential zones, construction hotspots
Builders and homeowners need quick access to fittings and materials
Footwear Store
Bus stands, railway stations, markets, and malls
Strong demand for affordable and variety-driven options
Florist & Plant Shop
Residential societies, wedding venues, and hospitals
Impulse buying + special occasions simply mean steady demand
Conclusion
India’s retail market is booming, but success depends on more than just passion; it hinges on choosing the right location. By aligning your store type with local demand, understanding the competition, and knowing regulations smartly, you build a strong foundation for growth.
Your retail location shapes your brand, customer trust, and long-term success. Therefore, choose carefully, plan strategically, and watch your business thrive in 2025 and beyond.
What are the legal requirements before starting a retail store in India?
You must comply with local zoning laws, obtain necessary permits and licenses, follow signage regulations, and ensure your business setup adheres to municipal and state laws. Consulting legal experts can help prevent penalties and delays.
What kind of retail store should I open in India?
Depending on your investment and target audience, options range from kiosks and convenience stores to premium boutiques and large-format outlets. Your choice should align with product type, local demand, and customer lifestyle.
What factors make a retail store location successful in India?
A successful retail store location in India depends on visibility, accessibility, foot traffic, local demand, competition, safety, and proximity to your target audience.
With an anticipated monthly price of INR 3,000 for limitless bandwidth and a one-time fee of INR 33,000 for the receiver kit, Elon Musk’s satellite internet business Starlink is getting closer to offering its services in India.
According to a media site, the service is anticipated to launch within the next 12 months. On June 6, Starlink achieved a significant milestone in its attempts to join the Indian broadband market by obtaining a vital licence from the Ministry of Telecommunications.
With this approval, Starlink becomes one of the three companies permitted to provide satellite-based internet services in India, joining Bharti Airtel’s OneWeb and Reliance Jio’s satellite division.
Starlink Targeting Rural and Remote Areas
Through its constellation of low-Earth orbit (LEO) satellites, Starlink intends to provide 600–700 Gbps of bandwidth, focusing on rural and isolated regions where traditional fibre and mobile networks are still scarce or unreliable.
Starlink is establishing itself as a premium service in areas where terrestrial internet is not an option, even though India is renowned for having some of the lowest data prices in the world. There were differing initial predictions regarding Starlink’s pricing in India.
Sanjay Bhargava, the former head of Starlink India, had projected an initial cost of INR 1.58 lakh, which would drop to INR 1.15 lakh in later years. The revised numbers align the price with Starlink’s recent debut in Bangladesh, where the service is available for INR 3,000 per month with a hardware cost of INR 33,000.
Starlink Expanding its Network in Asia
At the moment, Starlink serves a few Asian nations, such as Bangladesh, Bhutan, Malaysia, Indonesia, the Philippines, and Japan. Standard plans cost between INR 4,000 and INR 6,000 per month, depending on the market, whereas Residential Lite plans in the region usually cost between INR 2,600 and INR 3,000.
The first-year cost in Bangladesh, where the pricing plan is very similar to that suggested for India, is approximately INR 66,000. Before Starlink can begin operations in India, it still needs to clear further regulatory obstacles even after obtaining its operating licence.
The DoT has yet to approve the spectrum allotment proposals made by the Telecom Regulatory Authority of India (TRAI). The necessary paperwork for DoT clearance has already been sent in by the business.
After Starlink promised to abide by the most recent national security regulations for satcom operators, DoT granted initial clearance.
These comprise 29 new requirements, including the usage of local data centres, the requirement for interception and monitoring systems, the ability for mobile terminals to track, and the stringent localisation of infrastructure and services.
