CRED posts 16% jump in FY25 revenue, narrowing losses on broader product adoption
The Bengaluru-based company posted consolidated operating revenue of Rs 2,735 crore in FY2024–25, up from the previous year, according to a statement on Thursday. Gross margins stood at about 70%, while operating losses fell 51% to Rs 298 crore, reflecting tighter cost controls and improved operating leverage. Total losses declined 11.5% to Rs 1,457 crore.
CRED said engagement on its platform increased during the year, with monthly transacting users rising 14.5% to 12.6 million. Transaction frequency climbed 34% to 14.4 transactions per user per month, while total payment value grew 23% year-on-year to Rs 8.5 lakh crore.
The company continues to position itself as a platform for high-credit-quality consumers. More than half of all new credit cards issued in India go to CRED members, the company said, and about 60% of India’s multi-card holders are active on its platform. CRED also said it holds the leading market share in credit card bill payments.
About 45% of active members used three or more products during the year, helping CRED generate an average revenue per user of Rs 2,000, which the company said is the highest in India’s payments ecosystem.
CRED’s lending business expanded to Rs 22,000 crore in managed assets under management, remaining one of its top three revenue contributors alongside payments and insurance. The company also reported growth in insurance revenue after adding more insurers to its Garage platform.
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During the year, CRED introduced several new offerings, including CRED Money, Credit Score and Card Management, while expanding into products such as a prepaid payments wallet and loans against securities. These initiatives were aimed at increasing usage across multiple financial services categories.
“FY2024-25 was about widening the monetisation pipeline and accelerating product velocity. More members trusted CRED for higher-value transactions and adopted a wider range of products, positioning us for sustained revenue growth as they scale,” Founder Kunal Shah said.
CRED serves more than 15 million users and restricts access to individuals with high credit scores, targeting what it describes as India’s most affluent and creditworthy consumers.
Edited by Jyoti Narayan
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