Over a month after CRED - an Official Partner for the Indian Premier League 2020, rolled out quirky advertisements featuring Anil Kapoor, Madhuri Dixit and Bappi Lahiri among others, its latest addition includes the OG duo of 90s Bollywood singers – Udit Narayan and Alka Yagnik.
Narayan who joined Twitter specifically to share this commercial wrote, “This is my first tweet ever. Maybe the only good thing to come out of @CRED_club's auditions.”
What is CRED?
The company describes itself as a members-only club that "rewards individuals for their timely credit card bill payments by providing them with exclusive offers and access to premium experiences."
The app allows credit card users to manage multiple cards, pay bills on time and get rewards. It also offers an analysis of their credit score and bills and tells you how you have been using your credit card. It sends you reminders on your due payment as well.
Launched in November 2018, CRED is a members-only club that rewards individuals for their timely credit card bill payments by providing them with exclusive offers and access to premium experiences. According to their official website, it is a platform that allows credit card users to manage multiple cards along with an analysis of their credit score.
"Among many of the features in the app are CRED's credit card spend tracking and management feature which provides the user with analysis of spend tracking and efficiency of usage of the card," reads the website.
According to a report, "It (CRED) raised funds twice in 2019 alone – $125 million series A round and $120 million series B funding from Sequoia, Ribbit Capital, and more. Its last known valuation from August 2019 is $450 million."
Earlier this year, CRED had launched new features like CRED RentPay and CRED Stash. CRED RentPay allowed members to pay their monthly rent with their credit cards, while CRED Stash is claimed to be the "fastest, most seamless and fully digital way to get credit in India".
CRED founder and CEO Kunal Shah said he was extremely pleased to be associated with IPL, which without a question is among the most high-profile events on the world's sporting calendar.
"IPL represents the pinnacle of consumer experiences, powered by a global community of cricketers, fans and enthusiasts. We look forward to participating in this festival of sporting excellence, which celebrates peak performance for the individual, the team and the community," Shah said.