Cred Inc.
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Cred Inc. - overview
Established
2018
Location
San Mateo, CA, US
Primary Industry
Software
About
Based in California, US, and founded in 2018, Cred Inc, also known inside the United States as Cred (US) LLC, operates a decentralized global lending platform for cryptocurrency. The company was founded by Dan Schatt and Lu Hua. In June 2018, Cred raised USD 0. 1 million in strategic investment from new investor Binance Labs.
As of 2022, the company has more than 60,000 customers, USD 200 million pledged assets and its services are available in over 196 countries. Cred runs a cryptocurrency lending platform that allows users to earn monthly income on their crypto assets and stablecoin by lending or renting those digital assets to customers. Through Lockton, an insurance brokerage firm, the company backs up its credit owners' digital assets with collateral insurance coverage, allowing them to store over USD 150000 in crypto-assets and the company’s client base includes crypto miners, digital asset companies, crypto investment funds, and retail investors. Cred operates by setting a maturity date and interest rate for its lenders based on the asset type they rent, and it offers rental fees to its users based on the total interest rate yield.
Primary Industry
Software
Sub Industries
e-Financial, Consumer Finance, Web Applications, Accounting/Finance Software
Verticals
Blockchain, FinTech, FinTech, FinTech
Company Stage
Ceased Operations
Total Amount Raised
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