You need a credit score of over 750 to work at Kunal Shah's Cred
Summary
A stellar resume with top-notch skills arent enough to get you a job at Kunal Shah-led fintech firm Cred - you will also need a credit score of over 750. And a lot of people who want to join and dont have a score, they have three months to get that done, and we actually help them actively to achieve that," Shah said.While the practice is uncommon in India, many employers in developed markets, especially those dealing with sensitive and financial information and data, perform credit checks on job candidates.Shah said many times it is not intentional that people have lower credit scores and in 80-90 percent of the cases, they dont know what has really happened. Just disputing that, changing these things, allows them to achieve that"On February 25, Cred debuted Svalbard, a suite of credit-focused experiences that includes helping consumers manage and improve their credit score. In fact, he said that 79 percent of the Indians have faced consequences due to a low credit score, since they "dont understand the system that controls their future"As part of Svalbard release, Cred users can also pledge their mutual fund investments to secure digital credit lines at interest rates starting at 8.99 percent, a move that is expected to expand the lending ambitions of the Bengaluru-based startup.Creds total loan book has surpassed Rs 19,000 crore, Moneycontrol reported on February 5. The app will also feature a gesture based interface to make it easier for consumers to manage multiple cards.These experiences are part of the companys push to make its offerings more personalised to Indias affluent consumers.Started in 2018, Cred was last valued at $6.4 billion when it raised $140 million funding led by Singapores GIC and participation from Tiger Global, Sofina Ventures, Alpha Wave Ventures and Dragoneer in June 2022.