Kunal Shah
Indian entrepreneur and angel investor (born 1983) From Wikipedia, the free encyclopedia
Kunal Shah (born 20 May 1983) is an Indian entrepreneur and angel investor[1] known as the co-founder of Freecharge and the founder of CRED, a fintech company valued at around $6.4 billion.[2][3]
Kunal Shah | |
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| Born | 20 May 1983 |
| Alma mater | Wilson College, Mumbai (BA) |
| Occupation | Entrepreneur |
| Known for | Freecharge, CRED |
| Title | Co-founder of Freecharge Founder and CEO of CRED |
| Spouse | Bhavna Shah |
Shah co-founded Freecharge along with Sandeep Tandon in August 2010 as a financial services company that allowed users to pay bills as well as recharge mobile, broadband, DTH and metro cards. In 2015, e-commerce company Snapdeal acquired Freecharge for ₹2800 crore (US$400 million) in cash and stock.[4]
Early life and education
Kunal Shah was born and raised in Mumbai, Maharashtra.[5] He graduated with a Bachelor of Arts in Philosophy from Wilson College, Mumbai. Shah later enrolled in a part-time MBA program at Narsee Monjee Institute of Management Studies (NMIMS) but dropped out within a few months.[2]
Career
In 2010, Kunal co-founded FreeCharge, a digital payments company, with Sandeep Tandon. FreeCharge quickly gained popularity, attracting millions of users. In 2015, Snapdeal acquired FreeCharge for $400 million.[4][6]
In April 2018, at the age of 35, he founded CRED with his own capital. CRED is a credit card bill payment platform that rewards users for timely payments.[7]
CRED has raised substantial funding from investors including DST Global, Sequoia Capital, and Tiger Global.[8] In June 2023, CRED raised $140 million at a valuation of $6.4 billion.[9] The company became the official sponsor of the Indian Premier League from 2020 to 2023.[10]
Other ventures and Investments
Kunal is an angel investor, having invested in over 200 companies including Razorpay, Unacademy, and Bharatpe.[11][12] He has served as an advisor to Bennett Coleman and Co. Ltd. (Times Group) and AngelList. Kunal is also an Independent Director at Syrma SGS Technology Limited and Pine Labs.[13][14]
Awards and recognition
Personal life
Kunal Shah is married to Bhavna Shah,[2] who works as a freelance graphic designer. Kunal is known for his active presence on social media platforms, where he often shares insights on various topics including entrepreneurship and consumer behavior.[19][20]
As of 2023, Shah's net worth is estimated to be over $500 million.[21]
References
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