Product Case Study: How CRED Utilized Effective Product Management to Become a Unicorn Company


In today’s competitive business landscape, successful companies understand the importance of effective product management in driving growth and achieving unicorn status. CRED, a rapidly growing Indian fintech startup, serves as a prime example of how strategic product management can pave the way to success. This case study delves into CRED’s journey and highlights the key factors that contributed to its rise as a unicorn company.

The Genesis of CRED

CRED was founded in 2018 by Kunal Shah, an experienced entrepreneur and former CEO of FreeCharge. The company’s vision was to revolutionize credit card payments and provide users with a seamless and rewarding experience. CRED’s initial product offering focused on simplifying credit card bill payments and rewarding users for timely payments.

Product-Market Fit

One of the critical factors behind CRED’s success was its ability to identify and cater to a specific target audience. By focusing on credit card users with good credit scores, CRED created a niche market segment that was often overlooked by traditional financial institutions. This approach allowed CRED to tailor its product offerings and rewards to meet the unique needs of its target audience.

Effective Product Management

CRED’s journey from a startup to a unicorn company can be attributed to its effective product management practices. Here are some key strategies that CRED employed:

1. User-Centric Design

CRED prioritized user experience and designed its platform to be intuitive and user-friendly. By conducting extensive user research and leveraging user feedback, CRED continuously improved its product to meet the evolving needs of its users. This user-centric approach helped CRED build a loyal user base and drive customer satisfaction.

2. Iterative Development

CRED adopted an iterative development approach, constantly releasing new features and updates based on user feedback and market trends. This agile methodology allowed CRED to quickly adapt to changing customer preferences and stay ahead of its competitors. Continuous iteration and improvement ensured that CRED’s product remained relevant and valuable to its users.

3. Data-Driven Decision Making

CRED leveraged data analytics to gain insights into user behavior, preferences, and payment patterns. By analyzing this data, CRED was able to make informed decisions regarding product enhancements, rewards programs, and partnerships. Data-driven decision making enabled CRED to optimize its product offerings and drive user engagement.

4. Strategic Partnerships

CRED forged strategic partnerships with various brands to offer exclusive rewards and benefits to its users. By collaborating with popular brands, CRED enhanced its value proposition and incentivized users to engage with its platform. These partnerships not only increased customer loyalty but also helped CRED expand its user base.

Scaling and Growth

CRED’s relentless focus on product management and user satisfaction fueled its rapid growth. The company expanded its product offerings beyond bill payments, introducing features like credit score tracking, personal loans, and curated shopping experiences. This diversification allowed CRED to cater to a wider audience and capture additional revenue streams.

Furthermore, CRED’s commitment to providing exceptional customer service further solidified its position in the market. The company invested in building a responsive support team and implemented measures to address customer concerns promptly. This dedication to customer satisfaction helped CRED build a strong brand reputation and gain a competitive edge.


CRED’s journey from a startup to a unicorn company exemplifies the power of effective product management. By prioritizing user-centric design, embracing iterative development, leveraging data-driven decision making, and forging strategic partnerships, CRED was able to create a product that resonated with its target audience and drove exponential growth. Aspiring entrepreneurs and product managers can draw valuable insights from CRED’s success story and apply similar strategies to their own ventures.

Ultimately, CRED’s rise as a unicorn company showcases the significance of product management in building a successful and scalable business in today’s competitive market.