CRED's revenue surges 16% to ₹2,735cr in FY25, losses narrow
What's the story
Fintech unicorn CRED has announced a 16% year-on-year increase in its operating revenue for FY25. The company reported an operating revenue of ₹2,735 crore during the fiscal year. At the same time, CRED's operating losses fell by a whopping 51%, amounting to ₹298 crore in FY25. The company's gross margins stood at around 70% during the period under review.
Financial performance
CRED's net losses and user engagement metrics
Despite the improvement at the operating level, CRED continued to report net losses. The company's total losses narrowed by 11.5% year-on-year to ₹1,457 crore, including non-operating expenses such as ESOPs and depreciation. Meanwhile, its monthly transacting users (MTUs) grew by 14.5% to 1.26 crore while transaction frequency increased by a 34% to an average of 14.4 transactions per user per month during FY25.
User engagement
CRED's total payment value and user monetization
The total payment value processed on CRED's platform grew by 23% year-on-year to ₹8.5 lakh crore. As users adopted multiple products on the platform, monetization improved during the year. About 45% of active members used three or more products, leading to an average revenue per user (ARPU) of around ₹2,000 for the company.
Revenue sources
Lending and product expansion drive CRED's revenue growth
Lending remained a key revenue contributor for CRED in FY25, with managed assets under management (AUM) reaching ₹22,000 crore. During the year, the company expanded its portfolio across payments, lending, and personal finance by launching products like CRED Money, credit score and card management tools. It also introduced a prepaid payment instrument (PPI) wallet and CRED Cash+.