Cred Forays Into Vehicle Management Services With Garage Launch
It has also integrated a way for its customers to renew their car insurance on the app.
Fintech unicorn Cred forayed into the vehicle-management space with the launch of Cred Garage on Thursday.
The new business segment for the startup is essentially a one-stop platform for all expenses related to personal vehicles.
Members can track vehicle spending, such as on fuel and maintenance, and recharge Fastags. Garage also has features like paying traffic challans online.
It has also integrated a way for its customers to renew their car insurance on the app. It offers a "concierge" service for select members, which includes access to a car maintenance helpline, 24/7 roadside assistance, and insurance-claim support.
The segment also integrates India Stack's DigiLocker, which enables members to access soft copies of their driver’s licence, registration certificate, and insurance papers.
This foray marks another expansion for the Bengaluru-based company, which started off as a credit-card bill-payment platform in 2018.
In April 2020, it launched Cred RentPay, which allows its members to pay their recurring rent payments through credit cards directly on the Cred app and get reward points in return. It then introduced a second product, Cred Cash, which provided an instant credit line.
In April 2022, the company started offering mobile and direct-to-home recharges, along with utility bill payments. It has also now enabled peer-to-peer payments via the Unified Payments Interface.
