Kunal Shah is an entrepreneur known for building a famous fintech company, CRED. He has other startups as well. However, the app has become popular in recent years. People use it to make payments and link their credit cards as well. The app works on the formula of reward-based credit card payments. The company has its headquarters in Bengaluru, Karnataka.
Apart from this Kunal Shah has contributed in other startups and make them crores of company, Often people search Kunal Shah net worth and startups. So, let us have a detailed look at Kunal Shah’s professional life
Who Is Kunal Shah?
Kunal Shah is the founder of the CRED app. He completed his schooling at Wilson College with a Bachelor of Arts in philosophy. He pursued his graduation from SVKM’s Narsee Monjee Institute of Management Studies.
However, after the first year, he dropped out. Kunal Shah was done with his studies by 2004. However, before completing his studies, he was in the business world. Kunal married Bhavana Shah who is a graphic designer. He wanted a life partner from the tech field so that she could understand him better.
Kunal Shah’s Net Worth
Kunal Shah had a net worth of Rs. 15,000 Crore as of 2024. He mentions that he takes only Rs. 1,50,000 per month as salary from his company. He gives the reason that he does not want to withdraw huge amounts as salary till the company becomes profitable. Kunal has different sources of earnings. His major sources of earnings are his businesses. Apart from that, he also has investments in a lot of startups. He also gives advisory services to the company.
Kunal Shah’s Famous Startups And Success Story
Kunal started his journey of startups before dropping out his college in 2004. He started different companies and businesses to explore how things work. In 2009, he started his company Paisaback. The company deals in providing cashback or discounts on online purchases. He founded Freecharge next year for payment of bills, and mobile & TV recharge. After five years, he got a deal from Flipkart. It acquired Freecharge for more than $400 million. He continued to be CEO of Freecharge till 2016. He founded CRED in 2018 which became a unicorn in 2021.
Kunal Shah’s Major Startup Investments
He invested in the following startups with the following amount:
- Lightfury Games: $8.5 million
- VRO: $10 million
- Elivaas: $2.5 million
- SydeLabs: $2.5 million
- NeoDocs: $2 million
- Segwise: $1.6 million
- KARBAN: $1.07 million
- OnFinance: $1.05 million
- NURTUREV: $1 million
- MAVE: $720k
Kunal Shah’s Advisory Roles
Shah has an advisory role or sitting board member in the following companies:
- SYRMA SGS
- Pine Labs
- AngelList
- Bennett & Coleman