Archive · 16 Sep 2025
CRED Expands Services, Faces Financial Pressures
CRED, a fintech company, is launching new services like a concierge program, gold investments, and portfolio management to attract wealthy customers.
While revenue is up, the company is also losing money.
Other companies are also making moves: Pine Labs and Zappfresh are preparing for IPOs, while Flit aims to change how delivery workers are paid.
Meanwhile, bike taxis are set to return to Maharashtra.
CRED launched new offerings including Sovereign, a concierge service.
Pine Labs received SEBI approval for its IPO.
The EV ride-hailing startup MyPickup shut down.
Flit, a delivery startup, aims to offer better pay to riders.
Bike taxis will be returning to Maharashtra.
- Who
- CRED, Flit, Pine Labs, InCred, Zappfresh, Ola Electric, Pascal AI Labs
- What
- Are involved in new launches, fundraising, and IPO preparations; Bike taxis to return to Maharashtra
- When
- Ongoing, with financial data from FY24.
- Where
- India, specifically Pune for 'toing' launch, and Maharashtra for bike taxis
- Why
- To expand services, raise capital, and enter the public market.
- Company
- CRED, Pine Labs, InCred, Zappfresh, Ola Electric, Flit, Pascal AI Labs
- New Launches/Services
- Sovereign concierge service, gold investments, fixed deposits, portfolio management, new food delivery app 'toing'
- IPO News
- Pine Labs, InCred Financial Services, Zappfresh
- Funding
- Pascal AI Labs ($3.1M)
- Financial Data (CRED)
- Operating revenue at INR 2,397 Cr in FY24, losses at INR 1,644 Cr in FY24
- Bike Taxis
- Bike taxis to return to Maharashtra, charging INR 15 for first 1.5 km, INR 10.27 per km thereafter
