CRED, founded in 2018 by Kunal Shah, is an Indian fintech company based in Bengaluru.

It operates as a members only platform that rewards individuals for timely credit card bill payments, offering exclusive perks and privileges to its users.

The term CRED Mafia refers to the network of startups (16+) founded by former CRED employees. These entrepreneurs have ventured into various sectors, leveraging their experience and insights gained from their tenure at CRED.

Highlights of the Cred Mafia:

Founders spread across 27+ alma maters that we were able to track
16+ startups under its umbrella that we were able to track
Collective valuation of ₹612 cr
Created over 123 jobs
Active in Finance, Media & Social, Professional Services, Diversified Financial Services , Education, and others

Blog Outline | Data and Insights by PrivateCircle Research

Collective Valuation (₹ Cr)
Number of Start-ups Launched
Spread Across Sectors
Total Workforce
Job Creation & Economic Impact
Investor Activity & Funding Dynamics
Strategic Investments
Conclusion

Title - Cred Mafia 2024: Collective Valuation (₹ Cr)

Description - The total valuation of CRED Mafia Company is ₹ 612.03 crores as of dated September 30, 2024. Companies like Vaaree, and GrowthX are some of the highest valued companies on the list.

Note: Since we could not find the legal name for the following companies we have not considered the same for the calculation of company valuation. Monstera Inc, Flint, Descrypt, Hey, ProTal HR, Reelcraft, Tuk Tuk Thai, Elevate, Eddy Finance, and Finyman.

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Title - Cred Mafia 2024: Number of Start-ups Launched

Description - The number of startups launched by CRED Mafia has generally increased over the years, showing a clear upward trend. This shows that the CRED Mafia network has become increasingly active or influential in the startup ecosystem. However, the last year (2023) skews this average upward due to the high number of launches.

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Title - Cred Mafia 2024: Spread Across Sectors

Description - The CRED Mafia network shows a highly diversified portfolio across 16 sectors, suggesting an adaptable and exploratory approach to industry involvement. While finance related companies dominate, the spread across sectors such as software, education, media, and emerging technology highlights the CRED Mafia's strategic ventures beyond traditional fintech.

Link: https://datawrapper.dwcdn.net/cZUFf/1/ — ^{_{Click on the graph to access the responsive iframe. You can also embed it and download the data/image.}}

Title - Cred Mafia 2024: Total Workforce

Description - 4 CRED Mafia companies has together created 123 jobs.

Note: Employee counts are based on PF data filed with the EPFO. The latest wage month for CRED Mafia Founder's Company is September 2024. FY Employee Count is considered.

13 companies were excluded since no PF data available, which could imply that these companies are either early-stage startups, and 9 were excluded due to untraceable registered entities.

Since we Could not Find the Legal name for the below companies we havent Considered them for the EPFO Count. ProTal HR, Reelcraft, Tuk Tuk Thai, Elevate, Eddy Finance, Descrypt, Hey, Flint, Monstera Inc.

Link: https://datawrapper.dwcdn.net/PTw4L/1/ — ^{_{Click on the graph to access the responsive iframe. You can also embed it and download the data/image.}}

Title - Cred Mafia 2024: Founders' Alma Mater

Description - Of the 53 Cred Mafia founders, 13% (7 founders) are from BITS Pilani, 6% (3 founders) are from SRM IST Chennai, while 4% each come from IIM, VIT, and Christ University.

Note: We could not find the legal entity for the following companies, but the founder's are considered for alma mater. Monstera Inc, Flint, Descrypt, Hey, ProTal HR, Reelcraft, Tuk Tuk Thai, Elevate and Eddy Finance.

Link: https://datawrapper.dwcdn.net/9D17m/3/ — ^{_{Click on the graph to access the responsive iframe. You can also embed it and download the data/image.}}

Job Creation & Economic Impact

Startups are more than just valuation figures – they’re engines of employment.

Together, four CRED Mafia companies have created 123 jobs, as per EPFO data. While this number might seem modest, it’s important to note that several excluded startups are likely in their early stages, poised for future growth.

Investor Activity & Funding Dynamics

CRED Mafia startups have attracted significant investor interest. Their association with a successful parent company gives them a credibility boost, opening doors to funding opportunities.

Investors often see these ventures as lower-risk bets, given their founders’ experience with CRED’s innovative, user-focused business model.

Strategic Investments

Diversity is a hallmark of the CRED Mafia’s portfolio, with startups spanning 16 sectors.

While fintech remains dominant, these ventures have explored software, education, media, and even emerging technologies. This adaptability underscores their willingness to disrupt industries and explore new markets.

Conclusion

The CRED Mafia is more than a group of startups; it’s a testament to the power of ecosystems. With a robust network, innovative ventures, and the ability to attract top talent and investment, these startups are redefining the entrepreneurial landscape in India.

As more employees take the leap into entrepreneurship, the future looks bright for the CRED Mafia and the industries they’re set to transform.

Credits

This comprehensive report was made possible by the collaborative efforts of Sangeetha M, Nikshith Gowda, and Madona Ps.

Stay tuned for more in-depth analyses and insights on the latest trends in the startup world.

India's Comprehensive Private Markets Intelligence Platform, PrivateCircle Research. — _{^{India’s Comprehensive Private Markets Intelligence Platform, PrivateCircle Research.}}

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Cred Mafia 2024