CosmicTaco
CRED Eyes INR 550 Cr Investment in Newtap Finance
- CRED plans to invest INR 550 Cr in its NBFC, Newtap Finance Pvt Ltd, according to India Ratings and Research.
- NFPL aims to raise an additional INR 5,500 Mn equity from its promoter's subsidiary and CRED, pending regulatory approval.
- CRED had an AUM of INR 19,000 Cr in Dec 2024, with NPAs at 1.1%, up from FY24’s 0.73% and FY23’s 0.59%.
Source: Inc42
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I would be very thankful is someone can answer my only one question about CRED - How does it generate revenue (and how is it any different from credit card business?)
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