Synopsis
Cred has entered wealth management by upgrading Kuvera, acquired in 2024. It now offers a full suite of financial services. Kuvera’s new features will improve investing discipline, user decision-making, asset allocation, and long-term performance, the Bengaluru-headquartered company claimed.The Peak XV Partners-backed company has upgraded the Kuvera app to serve the ranks of the emerging wealthy, who prefer technology platforms rather than human-led investment advisory.
Thanks to expanding into wealth management, Cred now offers a full stack of financial services, with payments, consumer lending and insurance being the other lines of business.
“The idea is to build for a new set of wealthy individuals who are becoming affluent quite actively,” said Cred founder Kunal Shah. “Historically, wealth products were created by people who love managing wealth, tracking charts, and technicalities. But for most users, it is overwhelming.”
Shah added that technology will play a key role in this business. Kuvera’s new features will improve investing discipline, user decision-making, asset allocation, and long-term performance, the Bengaluru-headquartered company claimed.
As part of this expansion, Kuvera has launched a new feature on the app called Surplus. This will help investors invest their additional capital into liquid funds managed by leading Sebi-registered asset management companies.
Currently, Cred has partnered with DSP Asset Managers Pvt Ltd, ICICI Prudential Asset Management Company Limited, Aditya Birla Sun Life AMC Ltd and HDFC Asset Management Company Limited for the service, with plans to add more partners in the future.
“People are becoming more deliberate and conscious in their decision-making. Apps like this will automatically have tailwinds because of that shift. You won't necessarily need heavy marketing to drive adoption,” Shah added.
Cred, which started out as a credit card bill payments platform, had acquired Kuvera, backed by US investment firm Fidelity, for an undisclosed amount in 2024. This marked its entry into India's fast-growing mutual fund market, challenging industry leaders Zerodha and Groww.
Founded in 2016 by Gaurav Rastogi and Neelabh Sanyal, Kuvera lets users invest in mutual funds, digital gold, fixed deposits, as well as Indian and US stocks. Even after the acquisition, the founders have continued to run Kuvera.
Cred reported a consolidated operating revenue of Rs 2,735 crore for FY25, up 16% year-on-year (YoY), as higher product adoption improved monetisation and helped reduce losses. The company's operating loss narrowed by 51% YoY to Rs 298 crore, while its total loss declined 11.5% to Rs 1,457 crore, on the back of product portfolio expansion.
On March 11, Cred announced it had received final authorisation from the Reserve Bank of India to operate as a payment aggregator.
