• Venture Capitalist
|Physical Stats & More|
|Eye Colour||Dark Brown|
|Awards, Honours, Achievements||• Comeback award - Economic Times
Economic Times 2016
• Economic Times 40 under 40
Times of India 2016
• Fortune 40 under 40
• Fortune 40 under 40
Fortune Magazine 2015
|Date of Birth||20 May 1983 (Friday)|
|Age (as of 2021)||38 Years|
|College/University||• Wilson College, Mumbai
• Narsee Monjee Institute of Management Studies, Mumbai
|Educational Qualification||MBA Dropout The Times of India|
|Relationships & More|
|Wife||Bhavna Shah (Freelance Graphic Designer)
|Food||Guacamole and chips|
|People||Socrates, G.B. Shaw, Steve Jobs|
|Books||• Hard things about Hard things
• Zero to One
• Predictably Irrational
• The Monk who sold his Ferrari
• Never split the difference
|Net Worth (approx.)||$806 million as of 2021 Business Insider|
Some Lesser Known Facts About Kunal Shah
- Kunal Shah is an Indian entrepreneur and venture capitalist who is the founder of CRED which is the second-fastest-growing unicorn startup in India which is on its way to hit a $2 billion valuation in a $200 million funding.
- For him, it wasn’t easy to make it big in the startup scene. He belonged to a humble background and started working in his teenage due to his family’s financial problems. In an interview, while talking about hardships that he faced in his life, Kunal Shah said,
When you have not had money all your life, the value that you have for money is what it can do to other people’s lives.”
- He started his first job as a junior programmer in a business process outsourcing company after dropping out of his MBA.
- Kunal Shah has always had a keen interest in behavioral finance and science.
- He met his co-founder Sandeep Tandon at work and launched their startup with the name “FreeCharge” in 2010.
- “FreeCharge” was a cellphone bill recharging startup service that achieved a valuation of $400 million in 2015 by Snapdeal and was one of the biggest e-commerce acquisitions then.
- “FreeCharge” was acquired by Axis Bank in July 2017 for $60 million.
- Kunal Shah used all the revenue generated from the acquisition of his company to invest in startups both in India and abroad. He invested in 80 startups like Pianta – which is a healthcare service startup, Unacademy – which is an Ed-Tech startup, Razorpay – a billion-dollar fintech startup.
- During an interview, he was asked “why he didn’t own a designer car?” to which he answered,
I don’t know. I think about it a lot. I don’t feel I deserve it. I’d rather be investing in other people’s dreams because that’s more likely to change fortunes. I’d rather invest in a startup any day. I think I’m likely to be this way forever. Anyway, in India, the commute doesn’t get better in a superior car. The issue is the roads, not the car.
- He did also serve as an advisor at Sequoia Capital and Y Combinator and sat in the boardroom of ”The Times of India”.
- Kunal Shah founded CRED in 2018 which targets the top 1% of the Indian population with a high disposable income to spend.
- With CRED, Kunal Shah introduced an incentive-based reward system for its customers on paying their due bills with incentives by offering discounts on plane tickets and gym memberships which requires the customer to have a credit score of 750 to avails these benefits.
- CRED has a customer base of 5.9 million active users and processes roughly 20% of credit card bill payments in India.
- He has also featured in a web-series called “TVF Pitchers” as a judge of a startup event.
- Kunal Shah is very active on social media and has roughly 269k followers on his Twitter handle, where he is vocal about his opinions and perspectives.