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CRED starts P2P lending with 9 percent returns to investors, here’s how it works

Being the latest entrant in the P2P lending sector, CRED revealed that it looks to mitigate the risk factor by implementing a minimum credit score for users who want to borrow.  CRED, a fintech start-up founded by Kunal Shah, will now be lending credit to its users from a pool of capital made up of their own contributions, according to a TechCrunch report. CRED Mint will offer returns of up to nine percent to CRED’s 7.5 million user base.  The move marks CRED’s entry into the peer-to-peer (P2P) lending space which has been witnessing an influx of fintech players ever since 2017. It is the platform’s first community-driven investment product allowing members to back their peers by giving loans and accrue returns that are more than the rate of inflation.  CRED members have an average of Rs. 2,00,000 in their savings…

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I cover several beats such as Crypto, Telecom, and OTT at MediaNama. I can be found loitering at my local theatre when I am off work consuming movies by the dozen.

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