Cred, founded by Kunal Shah, is expanding into video commerce and group buying as part of its ecommerce offering under Cred Store, according to people familiar with the development.
The Bengaluru-based unicorn, which is currently valued at $4.01 billion, has begun product work on these new offerings and is expected to launch the features later this year, according to a person familiar with the discussions who spoke on the condition of anonymity.
According to an internal seller communication sent by Cred earlier this week, its team is “working on building and launching various product features on store that aim to boost user engagement and thereby screen time, retention and ultimately transactions”.
“Some of the features that are work in progress are group buying, video commerce, etc.,” it said.
Cred, which was founded in 2018 as a credit card payment platform that rewards users for every transaction, has been expanding its offerings in the last two years, branching out into lending via Cred Cash. It has also partnered with Cred Mint to launch community-driven peer-to-peer lending.
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