At a recent startup event, Kunal Shah, the founder of credit card payment platform CRED CLUB (CRED for short), was asked about how he raised so much money.
“I am able to raise money now because of past success,” Shah responded.
Few will dispute this contention. After all, Shah previously founded Freecharge, an online recharge business, which was sold for a then-record sum of $400 million to e-commerce company Snapdeal. This was in the halcyon days of e-commerce, circa 2015.
Now, an uncharitable observer might question whether Freecharge was a “success”.