Results · Financial Services

CRED narrows losses, revenue grows 16% in FY25

By Startup Enthusiast · 30 January 2026

What they do

In FY25, operating revenue rose 16% to Rs 2,735 crore, while operating losses fell 51% to Rs 298 crore

Monthly transacting users grew 14.5% to 1.26 crore, and transaction frequency increased 34% to 14.4 per user per month

The company targets full profitability in FY26, with gross margins around 70% and ARPU approximately Rs 2,000

CRED reported operating revenue of Rs 2,735 crore for FY25, up 16% year-on-year.
Operating losses narrowed 51% to Rs 298 crore in FY25.
Gross margins stood at around 70% in FY25.
Net losses fell 11.5% to Rs 1,457 crore, including employee stock option costs and depreciation.
Monthly transacting users grew 14.5% to 1.26 crore in FY25.
Transaction frequency rose 34% to 14.4 per user per month.
Total payment value processed reached Rs 8.5 lakh crore, up 23% year-on-year.
The company targets full profitability in FY26.

CRED's operating losses have shrunk by half, showing improving unit economics.
The company's focus on high-frequency transactions and cross-selling appears to be paying off.
CRED's valuation fell to $3.64 billion in a May 2025 down round, from $6.4 billion in 2022.
The company raised $72 million in that round, led by GIC.

CRED is a members-only club for creditworthy individuals, requiring a credit score of 750 or above.
It supports credit card bill payments for major Indian banks including American Express, HDFC, ICICI, SBI, and Axis.
The app supports VISA, MasterCard, American Express, and RuPay cards.
Features include UPI payments on credit, tap phone pay on credit, and sending money to any UPI app.
CRED also offers credit score checks via CIBIL soft inquiry at no extra charge.
The company runs an insurance marketplace called CRED Garage and manages cars' vitals.
In FY25, it launched CRED Money, credit score and card management tools, a PPI wallet, and CRED Cash+.
CRED is trusted by 25 million members and has app store ratings of 4.8/5 on both App Store and Play Store.

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