Fintech firm Cred’s revenue rises 66%, losses decline to Rs 609 crore

Fintech firm Cred reported a decline in its operating losses to Rs 609 crore in financial year 2024 (FY24), a substantial decrease from Rs 1,024 crore in FY23.

The Bengaluru-based company reported a 66 per cent increase in revenue to Rs 2,473 crore in FY24 from Rs 1,484.6 crore in the previous year.

The steep decline in the company’s losses and the increase in revenue come as its marketing expenses declined by 36 per cent and its monthly transacting users (MTUs) expanded by 34 per cent on a year-on-year (Y-o-Y) basis.