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'This is your sign!': CRED founder Kunal Shah urges Bangalore startups not to hesitate on AI
Business Today
·
5m ago
Medial
Kunal Shah, CRED founder, encourages Bangalore startups to embrace artificial intelligence (AI) to enhance innovation and efficiency. As global industries increasingly adopt AI, Shah advises startups not to hesitate in integrating this technology, warning them of the risks of being left behind if they don’t. His call to action highlights the necessity for tech-driven adaptation to remain competitive in the evolving business landscape.
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CRED CEO Kunal Shah urges Bengaluru startups to embrace AI now
Inshorts
·
5m ago
Medial
CRED CEO and Freecharge Co-founder Kunal Shah urged Bengaluru startups to adopt AI quickly. He said, "Bangalore startups are [increasingly] using AI to be hyper productive. But it seems only 20% are breathing AI...This is your sign." A user responded to his X post, calling AI a "go-to tool" and claiming India lags behind US in terms of AI adoption.
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AI Can Transform Fintech Sector But Is Not Being Used Enough: Peak XV’s Shailendra Singh
Inc42
·
1y ago
Medial
Peak XV Partners managing director Shailendra Singh highlighted the lack of AI implementation in India's fintech sector. CRED founder and CEO Kunal Shah emphasized the need for CEOs to take on the role of Chief AI Officer to promote growth in fintech. Both Singh and Shah shared their insights during a session on the future of fintech at the Global Fintech Festival (GFF).
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CRED's Kunal Shah launches platform to track and manage finances
Inshorts
·
1y ago
Medial
Cred founder Kunal Shah has launched Cred Money, a unified dashboard for financial management. The app aggregates financial data, helping affluent users manage their finances more easily. Despite stagnating user growth at 13 million, Cred is refocusing on high-credit-score customers, launching a luxury rewards program, and expanding UPI payments.
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Fresh Bus Bags Funding From Kunal Shah, Others
Inshorts
·
1y ago
Medial
Bangalore-based inter-state electric bus service provider Fresh Bus has raised INR 7.5 Cr ($1 million) in its second seed funding round. The funding was led by marquee investors including Kunal Shah, founder and CEO of CRED, Sudarshan Venu, the MD of TVS Motors, and Deepak Garg, founder and CEO of Rivigo. Fresh Bus aims to use the funds for tech development and team expansion as it plans to deploy about 70 buses on eight to ten routes by March 2024. The startup currently operates 20 buses on two routes.
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Cred only hires employees with credit scores above 750: Kunal Shah
Economic Times
·
6m ago
Medial
Cred, a fintech company led by founder Kunal Shah, only hires employees with credit scores of 750 or higher to emphasize responsible financial behavior. Shah aims to make a good credit score the norm for India's affluent, but acknowledges challenges for younger individuals. To support recruits, Cred helps potential employees improve their scores. Additionally, Cred is updating its P2P lending platform, Cred Mint, to comply with new regulations and recently launched loans against mutual funds as its first secured credit product.
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Fintechs must build collection muscle to scale lending business: Cred founder Kunal Shah
Economic Times
·
4m ago
Medial
Cred founder Kunal Shah emphasized that fintech startups must focus on building collection capabilities to ensure the sustainability of their lending businesses, as the challenge lies in loan recovery rather than disbursement. He highlighted that fintech is fundamentally a trust-based industry, necessitating a strong collection system. Cred, initially a credit card bill payments platform, has diversified into various lending and financial products, and is pursuing measures to enhance trust and revenue opportunities in the fintech space.
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“Building a successful app is hard today”: failed startup founder
Inshorts
·
1y ago
Medial
Indian digital health startup Nintee shut down on Tuesday. Backed by Peak XV and Cred founder Kunal Shah, Nintee aimed to change habits with cheat codes for health, wealth, and wisdom. Founder Paras Chopra exited citing competition from YouTube and Fortnite. Most funds will be returned to investors. Employees will receive severance and offers to join Wingify, Chopra's other company.
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Most rich customers in India don't know finance basics: Kunal Shah
Inshorts
·
9m ago
Medial
CRED Founder Kunal Shah said most affluent customers in India "don't understand financial literacy to the basic points". If the issues aren't addressed on time, it will restrict innovation and credit growth of India's fintech ecosystem, he stated. "A Viksit Bharat without very powerful credit growth in the ecosystem is unimaginable," he added.
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CRED CEO Kunal Shah suggests using AI to analyse market data
Inshorts
·
1y ago
Medial
CRED CEO Kunal Shah recently took to X (formerly Twitter) to share why startup founders face difficulties raising venture capital. He noted many overlook assessing their product's market size and suggested using an AI tool to analyze market data. Shah added that many founders struggle with funding due to the small market size of the problems they're addressing.
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Tiger Global-backed Cred joins RBI's digital currency project
VCCircle
·
7m ago
Medial
Tiger Global-backed Cred is the first fintech platform to offer access to India's central bank digital currency, the e-rupee. Initially limited to banks, the Reserve Bank of India expanded access to payment firms in April 2024. Cred, supported by YES Bank, will initially offer its e-rupee wallet to select users. Founder Kunal Shah aims to simplify e-rupee transactions for adoption. Despite initial interest, e-rupee transactions have since declined.
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