Kunal Shah
CEO & Founder at CRED
Kunal Shah is the CEO and founder of CRED, a FinTech startup based in India valued at over $6 billion that processes over 20% of all credit card bill payments in India. He previously founded Freecharge, which he sold for over $400 million to Snapdeal. With a background in philosophy and over 1 million followers on social media, he is one of the most respected entrepreneurs in India.
Dimension Profile
Key Themes
Episode Summary
Kunal Shah, one of India's most respected entrepreneurs, explains what makes building products in India fundamentally different from the US — from the cultural relationship with time and trust, to why companies can grow DAUs quickly but struggle with ARPUs. He shares why so many Indian immigrants become successful tech CEOs through following the 'dharma of the founders,' and argues that India is entering a new era where founders are finally being celebrated and the startup ecosystem is thriving.
Leadership Principles
- → Many successful immigrant CEOs follow the dharma of the founders — sustaining the original principles while making the company bigger
- → India can grow DAUs quickly but not ARPUs — understanding this gap is critical for building products there
- → Trust is the essential ingredient for building in India — in a low-trust society, building trust is your competitive advantage
Notable Quotes
"A lot of CEOs have done well because they follow the dharma of the founders quite well. 'These are the principles that were given to me and I'm going to sustain this and make it even bigger.'"
— On why so many Indian immigrants become successful CEOs at major tech companies
"No Indian has ever been paid an hourly salary in their entire life. The concept of time is not the same."
— On the fundamental cultural differences that affect how products are built and used in India
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