It’s been a minute. 2015–2018 - Exited FreeCharge. Spent time learning and investing. - Pondered about: Why can't trust be rewarded? Started with $1M of personal capital. - Launched CRED to reward people for paying credit card bills on time. 2019–2025 - Built a system run by a team that values ownership, judgment, and craft. - Grew from 0 to 17M members by aligning incentives with behaviour. - Built several products during COVID lockdowns. - Raised $900M+ from global investors. Did 4 ESOP buybacks. - Made Indiranagar and IPL ads slightly more interesting. - Received a full stack of regulatory licences. - Lost 35 kilos. - Scaled from 0 to ~$325M ( ~₹3,200 crore) in annual revenue across payments, lending, insurance, commerce, wealth, and credit cards. 2026 - First profitable quarter (yet occasionally asked what our business model is) - Raised another $900M from Meta in primary and secondary capital. - Announcing our 5th ESOP buyback. Today CRED is ready for its next phase. I am stepping back and @miten steps in as interim CEO, partnered with an incredibly talented team. He has been heading strategy and finance and suffering me since 2020. I’m stepping away from the operating role and will continue as a shareholder. My commitment doesn’t change. Just the role. Extremely grateful to our members, partners, regulators, and investors who made this possible. And to our board, Shailendra, Micky, Saurabh for their extraordinary conviction. Team CRED, I’ll still expect you to be a 10x version of yourselves. As for me, I’ll be joining Meta to lead WhatsApp globally. Meta comes in as a minority investor in CRED. No access to member data. While it’s come very far, the delta between WhatsApp today and its full potential is massive. I look forward to working with Mark, Chris, and the leadership across Meta for the next step in WhatsApp’s journey. Will, thank you for scaling something the world relies on quietly, and for making this transition smooth. Onwards.

Three New Funds for Exceptional Founders in India, APAC and beyond 🚀 We are pleased to announce the closing of $1.3 billion in new capital commitments across our India Seed, India Venture, and APAC funds. Along with significant uninvested capital in our existing Growth fund, we are excited about our ability to back outlier founders building category defining companies, across multiple stages, as we have done for two decades. We are immensely grateful for the steadfast commitment from our Limited Partners (LPs) for our inaugural Peak XV funds. Many of our LPs are leading non-profit endowments and foundations, and serving them adds a special meaning to our work. We understand every fundraise is a responsibility to the founder ecosystem and to our LPs, and we are relentlessly committed to serving them. This is the most exciting time we have witnessed in our lifetimes. AI is transforming the world at an unprecedented pace, and while the initial breakthroughs were concentrated in Silicon Valley, AI opportunities are now abundant in India and APAC. The size, scale and sophistication of technology startups is deeply inspiring across both India and APAC. India’s FinTech ecosystem is already one of the most advanced in the world and the Consumer opportunity has decades of compounding ahead. The combination of technical innovation, deepening markets, quality of talent and increasing global ambition makes this an amazing time to be investing in the region. For those special founders who have a vision to change how something works and who combine ambition with execution, hustle with resilience and who wish to serve the world ahead of themselves, we are here to partner with you. 🙌 @sjs_day1 @mobhat @gvravishankar @RajanAnandan @i_sakshichopra @rohitagar_wal @abhishek_mohan