CRED reports Rs 2,735 Cr revenue in FY25; operating losses fall 51%

Fintech unicorn CRED reported an operating revenue of Rs 2,735 crore in FY25, a 16% year-on-year increase. At the same time, its operating losses declined 51% to Rs 298 crore in FY25, according to the firm’s press release.

CRED’s gross margins stood at around 70% during the year. Despite improvement at the operating level, CRED remained loss-making on a net basis. Its total losses narrowed 11.5% year-on-year to Rs 1,457 crore, which includes non-operating expenses such as ESOPs and depreciation.

According to the release, its monthly transacting users (MTUs) 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 during the year as users adopted multiple products on the platform. Around 45% of active members used three or more products, resulting in average revenue per user (ARPU) of approximately Rs 2,000, the press release added.

Lending remained a key revenue contributor in FY25, with managed AUM reaching Rs 22,000 crore. During the year, CRED expanded its portfolio across payments, lending, and personal finance, launching products such as CRED Money, credit score and card management tools, PPI wallet, and CRED Cash+. Its insurance marketplace, CRED Garage, added more insurers, aiding insurance revenue growth.

According to TheKredible, CRED has raised more than $1 billion across nine funding rounds, including a $72 million down round led by GIC in May 2025 that cut its valuation to $3.64 billion from $6.4 billion in 2022. As per the company, it’s eyeing full profitability in FY26.