CRED to acquire CreditVidya
CRED, a high-trust community of creditworthy individuals, brands, and institutions and CreditVidya - a SaaS company that offers a lending-as-a-service platform, have agreed on terms for an acquisition of CreditVidya by CRED. The transaction is a mix of cash & stock, and closure of the acquisition is subject to requisite approvals.
CreditVidya’s full stack platform enables businesses to embed customized credit products through easy to integrate APIs.
Kunal Shah, founder, CRED, said, “Expanding access to credit is a key driver for financial progress. CreditVidya's patented tech stack uncovers signals of trust among under-served cohorts. We look forward to supporting them in powering an inclusive credit ecosystem.”
Abhishek Agarwal, co-founder & CEO, CreditVidya, said, “We’ve invested in building category-defining products that bring financial services to credit under-served Indians through our partners, transforming how risk is assessed and trust measured to drive financial inclusion. In our next phase of our growth, as we build brand and scale distribution, we are excited to learn from the CRED team.”
“In the last few years, we have leveraged the power of technology to expand access to credit. As we step forward into a new era of growth with CRED, I would like to thank our team and partners for their continued faith in our mission,” added Rajiv Raj, co-founder & Director, CreditVidya.
CRED and CreditVidya will continue to operate independently. CreditVidya’s 200+ team members will get all the benefits extended to CRED team members, including its ESOP program.