Gaurav Harshad Pandya

Founder & Managing Partner at Greenback Capital LLP

[Gaurav Harshad Pandya @GauravPandya]

दोस्त हालात बदलने वाले रखो,
हालात के साथ बदलने वाले नहीं...

[Sandeep Kulkarni @moneyworks4u_fa]

Note to self.

[Kunal Shah @kunalb11]

It’s been a minute.

2015–2018
- Exited FreeCharge. Spent time learning and investing.
- Pondered about: Why can't trust be rewarded? Started with $1M of personal capital.
- Launched CRED to reward people for paying credit card bills on time.

2019–2025
- Built a system run by a team that values ownership, judgment, and craft.
- Grew from 0 to 17M members by aligning incentives with behaviour.
- Built several products during COVID lockdowns.
- Raised $900M+ from global investors. Did 4 ESOP buybacks.
- Made Indiranagar and IPL ads slightly more interesting.
- Received a full stack of regulatory licences.
- Lost 35 kilos.
- Scaled from 0 to ~$325M ( ~₹3,200 crore) in annual revenue across payments, lending, insurance, commerce, wealth, and credit cards.
2026
- First profitable quarter (yet occasionally asked what our business model is)
- Raised another $900M from Meta in primary and secondary capital.
- Announcing our 5th ESOP buyback.

Today

CRED is ready for its next phase. I am stepping back and @miten steps in as interim CEO, partnered with an incredibly talented team. He has been heading strategy and finance and suffering me since 2020. I’m stepping away from the operating role and will continue as a shareholder. My commitment doesn’t change. Just the role.

Extremely grateful to our members, partners, regulators, and investors who made this possible. And to our board, Shailendra, Micky, Saurabh for their extraordinary conviction.

Team CRED, I’ll still expect you to be a 10x version of yourselves.

As for me, I’ll be joining Meta to lead WhatsApp globally.

Meta comes in as a minority investor in CRED. No access to member data.

While it’s come very far, the delta between WhatsApp today and its full potential is massive. I look forward to working with Mark, Chris, and the leadership across Meta for the next step in WhatsApp’s journey. Will, thank you for scaling something the world relies on quietly, and for making this transition smooth.

Onwards.

[U.S. Embassy India @USAndIndia]

“I think India plays a big role in everything as long as he’s the leader” - President Donald J. Trump

[Ambassador Sergio Gor @USAmbIndia]

President Donald Trump was asked who’s a great leader? The answer: Prime Minister Modi! 🇺🇸🤝🇮🇳

[Rahul Shivshankar @RShivshankar]

TRUMP PRAISES MODI TO THE SKIES.
"..He's a very tough negotiator... You look at this man. I'll give you a lesson. He's the most beautiful-looking man. He looks so nice, like an angel. But actually, he's as tough as he is a killer... But he looks so good. So he gets you by surprise. But there are a few people like this. People say he's such a nice man. I said he's very tough. He's a tough trader, and he loves the Indian people, but he also loves the USA. We had 'Howdy Modi' in Houston. The stadium was full... We'll be going to India sometime in the future."

[Narendra Modi @narendramodi]

Shared my thoughts at the Outreach Session on ‘Forging New Partnerships and Rebuilding International Solidarity’ at the G7 Summit in Evian. In a world that is getting more interconnected and interdependent than ever before, this subject becomes all the more vital. But, partnerships can succeed only when they are founded on trust.

@G7

[Narendra Modi @narendramodi]

Mutual trust is the most important strategic asset today.

But, sadly, today, the world does not suffer from a shortage of resources…it suffers from a shortage of trust.

And the future of our partnerships depends on re-building this trust.

[Narendra Modi @narendramodi]

With fellow leaders at the G7 Summit in Evian.

We will keep working together to advance prosperity, sustainability and human well-being.

@G7

[Narendra Modi @narendramodi]

Thank you for the welcome in Evian my friend, President Macron!

@EmmanuelMacron

@G7

[Narendra Modi @narendramodi]

I welcome the understanding reached between the United States and Iran on ending the conflict in West Asia, which has caused serious economic disruption across the world and led to loss of life in many countries.

India hopes that the implementation of this understanding will help restore peace and stability in the region and ensure the freedom of navigation and commerce.

We look forward to deliberations on the remaining issues reaching a sustainable final agreement.

[Gaurav Harshad Pandya @GauravPandya]

Acknowledging past mistakes is the first step towards success..
#LTCG #FII #NIFTY #SENSEX

[Emmanuel Macron @EmmanuelMacron]

🇮🇳🇫🇷

[Aditya Raj Kaul @AdityaRajKaul]

French President @EmmanuelMacron shares video with PM @narendramodi in the backdrop of Dhurandhar’s Aari Aari remake song.

[Tehseen Poonawalla Official 🇮🇳 @tehseenp]

Most Indian vehicles aren’t even E20 compatible ..yet Nitin Gadkari ji is forcing 100% ethanol norms on us!

We the people pay full price for our vehicles + we pay road taxes, insurance, tolls, GST on vehicles, parking, GST on spares, basically or lot of money for everything that one can think of! And yet in return we get Pathetic roads, mostly terrible infrastructure, traffic jams and now fuel that destroys the engines and kills mileage of our vehicles!

Meanwhile we all know that most sugar mills owned by netas & their families and it is their linked companies that are minting crores from ethanol distilleries.

Let's cut out the BS, this is a straight-up Ethanol Scam! And while we INDIANs have to pay a price & yet suffer, these netas profit and make money! Also say if one wants non blended fuel instead of this nonsensical E-20, E-30 or E-100 why can't we be given that?
#EthanolScam #GadkariEthanol #MiddleClassLoot

[Gaurav Harshad Pandya @GauravPandya]

Wish market was open today .. 😩😩
#NIFTY #SENSEX #USIRANDEAL

[Rishikesh Taksale @rishilectual]

Once a legendary TCS CEO K Krithivasan said this in Davos

[Lt Gen DP Pandey @LtGenDPPandey]

Not rule of law. Has the UN given responsibility to US or any international organization has taken control of international waters. Are they part of some anti piracy operation? And military operation against shipping of civilians, even thieves have to be rescued when in trouble. At high seas or against enemy action when sailors are in distress, they are rescued. It is not law but moral obligation.
The low standards of morality touch a new low for a military that was considered to have some principles. No more.

[Gaurav Harshad Pandya @GauravPandya]

India - US “strategic” relation hits lowest today..
India registered a strong protest while US submitting zero remorse, no apology, no acknowledgement and on top of it WARNING .. to a nation who has nothing to do with this war..
shocking and spiteful behaviour !!

[Shashi Tharoor @ShashiTharoor]

Deeply shocking to read this official US statement, which contains absolutely no expression of regret or condolence for the loss of innocent Indian lives. How can a “friend” and strategic partner be so deeply insensitive?

Why couldn’t a non-compliant commercial vessel have been stopped using other, non-lethal means? Is it not possible to disable a ship's propulsion or steering without firing missiles targeted to kill civilian crew members?

Practically every merchant ship navigating these crucial waters has Indian crew on board. Are they all considered fair game for US missiles now?

This approach is unacceptable and I hope @DrSJaishankar had said so to @marcorubio.

[sandip sabharwal @sandipsabharwal]

I believe we are at a point of peak pessimism on India.

Indian markets have massively underperformed global markets. Sentiment on the currency remains extremely negative. Foreign Portfolio Investor positioning is very light, reflecting a high degree of caution.

Markets are also pricing in a scenario of elevated commodity prices for a prolonged period, and analysts have already cut earnings estimates on that basis. This can reverse quickly if the #IranWar subsides and the #Hormuz Strait remains open or normalizes.

Many stocks are trading at valuations that appear attractive relative to their long-term prospects.

The key near-term risk remains the #Monsoon. A significant rainfall shortfall could impact food inflation, weigh on rural demand, and alter the macro outlook in the short run and needs to be tracked.