Kunal Shah-led CRED posted losses of ₹360.3 crore in FY20, rising almost six times from the ₹60.87 crore it lost in FY19. Moreover, CRED posted an operating revenue of ₹52 lakh, with the rest ₹17.56 crore coming via interest on deposits. CRED claims to have on-boarded almost 60 lakh users on its platform, after raising ₹828 crore during FY20.