CRED’s FY25 revenue rises 16% to Rs 2,735 crore as losses narrow

Fintech unicorn CRED reported steady revenue growth and a sharp reduction in operating losses in FY25, even as a recent funding round reset its valuation amid a broader fintech slowdown.

The company posted operating revenue of Rs 2,735 crore in FY25, a 16% year-on-year increase. Operating losses declined 51% to Rs 298 crore during the year, with gross margins at around 70%.

Despite the improvement at the operating level, CRED remained loss-making on a net basis. Total losses narrowed 11.5% year-on-year to Rs 1,457 crore, reflecting the impact of non-operating expenses such as ESOP costs and depreciation.

User activity and transaction metrics strengthened during the year. Monthly transacting users rose 14.5% to 1.26 crore, while transaction frequency increased 34% to 14.4 transactions per user per month. Total payment value processed on the platform grew 23% year-on-year to Rs 8.5 lakh crore.

Monetisation improved as a larger share of users adopted multiple products. Around 45% of active members used three or more products on the platform, driving average revenue per user to approximately Rs 2,000. Lending remained a key revenue driver, with managed assets under management reaching Rs 22,000 crore in FY25.

In 2025, CRED expanded its offerings across payments, lending, and personal finance. New launches included CRED Money, credit score, and CRED Cash+. The company also scaled its insurance marketplace, CRED Garage, by onboarding additional insurers, supporting growth in insurance-linked revenues.