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Launch · Financial Services

CRED upgrades wealth platform Kuvera for affluent investors

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Date
Company
CRED
What it does
Members-only credit card rewards club
Kind
Launch
Founded
2018
Sector
Financial Services

What they do

CRED upgraded its wealth platform Kuvera with a behavioural framework and Surplus idle cash feature

What happened

Kuvera users have twice the industry average monthly SIPs and among the highest portfolio values

Why it matters

The upgrade targets investors with larger portfolios, deploying idle cash into liquid funds managed by ICICI Prudential, HDFC, and Aditya Birla Sun Life AMCs

The details

  • CRED upgraded its wealth platform Kuvera for affluent investors.
  • The upgrade targets investors with larger portfolios.
  • Kuvera introduced a behavioural framework that evaluates investors on discipline, allocation, and performance.
  • Kuvera launched the Surplus feature to deploy idle cash into liquid funds.
  • Surplus liquid funds are managed by ICICI Prudential AMC, HDFC AMC, and Aditya Birla Sun Life AMC.
  • Surplus partial withdrawals are processed within minutes.
  • CRED acquired Kuvera in February 2024 as part of its wealth management push.

The bigger picture

  • Kuvera users have average monthly SIPs at twice the industry average.
  • Kuvera users have among the highest portfolio values across digital platforms.
  • Nearly 80% of mutual funds underperformed benchmarks over the past five years.

About the business

  • CRED is a members-only club for creditworthy individuals.
  • CRED offers credit card bill payments, UPI payments on credit, rewards, cashback, and coins.
  • CRED membership requires a credit score of 750 or above.
  • CRED is trusted by over 25 million members.
  • CRED app is rated 4.8/5 on App Store and Play Store.
  • CRED supports credit cards from American Express, Standard Chartered, Citibank, HSBC, HDFC, ICICI, SBI, AXIS, RBL, PNB and other top Indian banks.
  • CRED supports VISA, MasterCard, American Express, and RuPay cards.

Founders

  • Kunal Shah, Founder

About CRED

Customers
Affluent credit card users and consumers seeking financial products
How it makes money
A consumer fintech platform that monetizes through financial products and category expansion
What sets it apart
Targets a harder-to-reach, higher-value customer segment rather than mass-market fintech users

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