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#Business | Cred revenue rises 66% to Rs 2,473 crore in FY24, losses down by 41% to Rs 609 crore 💰📈 Tap for more details👇 https://t.co/AWHyRjaz09 #Cred #Revenue #Losses
🚨🚨 CRED's FY24 numbers are in. Revenue up 66% to $295 million led by the lending, payments and insurance businesses. At $6.4 bn, Cred is valued at 21X revenue https://t.co/PznB7XS56z https://t.co/Q6p93nTbP9
Cred revenue rises 66% to Rs 2,473 crore in FY24, losses down by 41% to Rs 609 crore By @AnandJRAnand https://t.co/g1Uuf3id1P via @moneycontrolcom
Cred, a reward-based payments platform, reported a 66% surge in revenue to Rs 2,473 crore ($295 million) for FY24. Despite this growth, Cred's overall losses increased by 22% to Rs 1,644 crore. However, the company managed to reduce its operating losses by 41% to Rs 609 crore. Cred's total payments volume also rose by 55% year-on-year to Rs 6.8 lakh crore. The company's revenue growth was driven by its lending, payments, and insurance businesses, with a valuation of $6.4 billion, equivalent to 21 times its revenue.
