When CRED crossed INR 2,400 Cr in revenue last year, it finally sent a message to India’s fintech ecosystem. The company’s strategy of targeting just the top 1%-2% of the fintech customer base was finally paying off.

Over the past 18 months, the Kunal Shah-led startup launched several products that sought to increase user engagement on the platform, but the latest changes are all geared towards monetising this top 2% of the fintech user base.

Like this past week, when CRED did the most CRED thing, launching secured loans with a so-called Svalbard release. This ‘release’ also revamps the credit cards experience and adds a credit score history feature.

Where does this place CRED among the front-runners in the fintech space — Paytm and PhonePe? Before we answer these, a look at the top stories from our newsroom this week:

• Zappfresh’s IPO Cook Book: A lot has changed since SEBI’s regulations delayed Zappfresh’s listing dreams last year. The meat delivery startup has been rolling in profits unlike its peers and now it’s looking to capitalise on the global opportunity after making a mark in India
• The Dilemma In Gaming: In the absence of a uniform, pan-India regulatory framework, most gaming companies are still in a state of limbo. The cry for centralised regulation in gaming has only turned louder, as companies deal with disparate legislation at the state level
• Rebel Foods’ 15-Min Gamble: The race to reach a netizen’s doorstep with a platter full of goodies at unprecedented speeds is as real as it gets. Amid this, Rebel Foods, too, has stepped into the ultra-fast food-delivery lane with QuickiES.

What’s The Svalbard Release?

The Svalbard Release is meant to evoke imagery of the Northern Lights, where the Arctic night sky changes in an instant from dark to a colourful delight.

Where other companies go for a simple press release, CRED launched the secured loans product Cash with a big media event in Bengaluru. Plus, CRED’s new product launches and feature drops are starting to sound more like Apple macOS upgrades (macOS Sequoia, anyone?) rather than just another fintech app feature.

It’s not the first time someone has compared CRED to Apple and it won’t be the last, even though both are worlds apart. But CRED’s approach to catering to the premium segment of the market is similar to Apple’s, even though Android phones have the........

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