Fintech firm Cred reports 66% revenue increase to Rs 2,473 crore for FY24, driven by user growth and reduced marketing expenses.

Fintech firm Cred reported a 66% revenue increase to Rs 2,473 crore for FY24, driven by a 34% rise in monthly transacting users and reduced marketing expenses. Operating losses decreased by 41% to Rs 609 crore. CEO Kunal Shah noted that 70% of customer acquisition is now organic or referrals. Despite growth, Cred's net loss rose 22% to Rs 1,644 crore. The company plans to launch new products but has no immediate plans to go public.

September 30, 2024
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