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"Oh, I wanted to ask this... What is @CRED_club's business model?"
👆Every second conversation I've had with people in the last 6 months.
So, I spoke to a bunch of folks. [Thread]
👆Every second conversation I've had with people in the last 6 months.
So, I spoke to a bunch of folks. [Thread]
Disclaimer: Some conversations were had in confidence and I'm not putting all of that out here.
But, I would love to hear more thoughts around this because I find Cred to be super fascinating.
But, I would love to hear more thoughts around this because I find Cred to be super fascinating.
What we know:
- Cred has 2 million customers
- Opportunity to drive traffic with merchant tie-ups (Marginal business model: The bigger incentive here is to lure users to come to Cred)
- The overarching theme is to incentivise good financial behaviour.
- Cred has 2 million customers
- Opportunity to drive traffic with merchant tie-ups (Marginal business model: The bigger incentive here is to lure users to come to Cred)
- The overarching theme is to incentivise good financial behaviour.
What @kunalb11 has spoken about:
- Building a 'community' of trustable folks and cross-selling products/services. A subset of this could be redefining the classifieds business model. (Trusted sellers, trusted buyers)
This still seems like a low-margin revenue model.
- Building a 'community' of trustable folks and cross-selling products/services. A subset of this could be redefining the classifieds business model. (Trusted sellers, trusted buyers)
This still seems like a low-margin revenue model.
Also stated that Cred is in talks with banks to launch a 'bunch of products', including personal loans.
The whole 'lending is a feature' model is over-done to the point of irritation, but for banks to forego that and partner with Cred in perpetuity seems unlikely. Wdyt?
The whole 'lending is a feature' model is over-done to the point of irritation, but for banks to forego that and partner with Cred in perpetuity seems unlikely. Wdyt?
One that came up often:
A lot of us 'hoard' money and don't spread our idle income. This could be an area of focus and could be an interesting one, but from what I was told, there's no direction yet.
There has to be mechanism: MF? RD? FD?
A lot of us 'hoard' money and don't spread our idle income. This could be an area of focus and could be an interesting one, but from what I was told, there's no direction yet.
There has to be mechanism: MF? RD? FD?
Credit card companies have a generic distribution channel that is opaque, barriers for entry are huge and are simply not 'Cred'ible for users.
Cred has the potential to offer personalised offers that incentivises users. But this means relying on merchant revenue - too small.
Cred has the potential to offer personalised offers that incentivises users. But this means relying on merchant revenue - too small.
Creating a mechanism where the Cred score takes precedence for ALL types of activities. (A leaf out of China, even Black Mirror 😛)
The score determines entry into a club, house in a locality, business deals et all... And yet, to translate this into revenue for Cred is... 🤪
The score determines entry into a club, house in a locality, business deals et all... And yet, to translate this into revenue for Cred is... 🤪
What do you think? DMs are open too.
P.S. If you've read this till the end, here's the most interesting one:
A platform to offer experiences - travel, art, literature et all.. And monetise.
Huge Opex, multiple verticals, deals with established vendors in a niche field.
P.S. If you've read this till the end, here's the most interesting one:
A platform to offer experiences - travel, art, literature et all.. And monetise.
Huge Opex, multiple verticals, deals with established vendors in a niche field.
