Prashant Jain

guy

[Prashant Jain @jain_saabh]

Sher-e-meta 👑👑

Kunal Shah has entered the chat💪🏼💪🏼💪🏼

[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.

[Prashant Jain @jain_saabh]

@Paytmcare But I have already received confirmation from spicejet that they have provided refund to paytm.
Please check your process, and stop just copy pasting your standard response. And have some empathy and genuine concern. This is really pathetic.

[Prashant Jain @jain_saabh]

When will @Paytm learn from their mistake. Totally unacceptable behaviour, my refund has been pending > 30 days, multiple follow up from my end, no reassurance, no apologies.

Learn and make things right @Paytmcare

[Prashant Jain @jain_saabh]

@Paytm @Paytm 1 month passed away- still no sign of my refund.
What do you want, a daily reminder from my end?

[Prashant Jain @jain_saabh]

@Paytm @Paytm 1 month passed away- still no sign of my refund.
What do you want, a daily reminder from my end?

[Prashant Jain @jain_saabh]

Another week gone. Still no sign of my refund.

No calls from paytm, no help or reassurance. Can I go to the consumer forum against this delay.

@Paytm

[Prashant Jain @jain_saabh]

I have been an avid champion of @Paytm, supporting home grown brand.

But they have hoarded my 11K refund for 10 days, and with shitty AI chat bot, getting no help.

@vijayshekhar

[Prashant Jain @jain_saabh]

Sweet shop >>>> cash rich university >>>> new age alt-mba college

[OTAKU @OtakuProcess]

TIL Lovely Professional University’s founder is father of the guy who started Masters Union. Faah.

[Prashant Jain @jain_saabh]

To all diet coke enthus out there.
Don't hoard it like people hoard on oil.

So, stop boasting about a crate or 2 in your refrigerator.

[Prashant Jain @jain_saabh]

@priymrj I see stock on Flipkart minutes

[Prashant Jain @jain_saabh]

@Paytmcare @Paytmcare 10 days past this, issue is still pertaining. This is really frustrating, no update on the internal ticket. Please check this urgently.

[Prashant Jain @jain_saabh]

I have been an avid champion of @Paytm, supporting home grown brand.

But they have hoarded my 11K refund for 10 days, and with shitty AI chat bot, getting no help.

@vijayshekhar

[Prashant Jain @jain_saabh]

@shreepoorna365 Top tier hoarding.
Next week, we'll blame the govt for the diet coke shortage.

[Prashant Jain @jain_saabh]

@aviralbhat You missed Pro kabbadi league, that seems to beat this thesis. Clearly a 2nd winner in sports league.

Increased viewership and digital rights YOY.

[Prashant Jain @jain_saabh]

@thejay Kudos Jay, looks like Kairos will be a great enabler for the prediction market. Would love to be part of the journey.

[Prashant Jain @jain_saabh]

I'm a finance guy, love to work with numbers, love to learn new things, and have worked on hedge fund ops.

Looking to connect with people in the web3, finance, event trading and finance. Looking to create synergy and learn along.

Hit me up/ RW for opportunities

[Prashant Jain @jain_saabh]

@stellarlio Sick edit

[Prashant Jain @jain_saabh]

@j0hnwang I have been really following the Kalshi journey.

Have applied for the Finance operations role at Kalshi, still looking to hear back.

[Prashant Jain @jain_saabh]

This is such a badass move from DP.

This is him signalling on how to trust your instincts and others as well. From fired to group CEO, Albi bears the fruit.

Looking forward to what DP gets into aerospace, defense tech, AI. We might see a new unicorn from him in the next 6 mnth

[Deepinder Goyal @deepigoyal]

An important update on leadership changes at Eternal.

[Prashant Jain @jain_saabh]

This somehow lowkey feels like- Virat hitting out of the park

[Deepinder Goyal @deepigoyal]

Last one on this topic, and I have been holding this in myself for a while.

For centuries, class divides kept the labor of the poor invisible to the rich. Factory workers toiled behind walls, farmers in distant fields, domestic help in backrooms. The wealthy consumed the fruits of that labor without ever seeing the faces or the fatigue behind it. No direct encounter, no personal guilt.

The gig economy shattered that invisibility, at unprecedented scale.

Suddenly, the poor aren't hidden away. They're at your doorstep: the delivery partner handing over your ₹1000+ biryani, late-night groceries, or quick-commerce essentials. You see them in the rain, heat, traffic, often on borrowed bikes, working 8–10 hours for earnings that give them sustenance. You see their exhaustion, their polite smile masking frustration with life in general.

This is the first time in history at this scale that the working class and consuming class interact face-to-face, transaction after transaction. And that discomfort with our own selves is why we are uncomfortable about the gig economy. We want these people to look our part, so that the guilt we feel while taking orders from them feels less.

We aren't just debating economics. We are confronting guilt. That ₹800 order might equal their entire day's earnings after fuel, bike rent, and app cuts. We tip awkwardly, or avoid eye contact, because the inequality is no longer abstract. It's personal.

Pre-gig era, the rich could enjoy luxury without moral discomfort. Labor was out of sight. Now, every doorbell ring is a reminder of systemic inequality. That's why debates explode. It's not just policy. It's emotional reckoning. Some defend the system (“they choose it”), others demand change (“this isn't progress, its exploitation”).

And here’s the uncomfortable twist: the unsaid ask of clumsy ‘solutions’ isn’t dignity. It is about returning to invisibility.

Ban gig work and you don’t solve inequality. You remove livelihoods. These jobs don’t magically reappear as formal, protected employment the next day. They disappear, or they get pushed back into the informal economy where there are even fewer protections and even less accountability. Over-regulate it until the model breaks, and you achieve the same outcome through paperwork instead of slogans: the work evaporates, prices rise, demand collapses, and the people we claim to protect are the first to lose income.

And then what happens?

The rich get their old comfort back. Convenience returns without faces. Guilt dissolves. We go back to clean abstractions and moral posturing from a distance. The poor don’t become safer, they become invisible again: back in cash economies, back in backrooms, back in shadows where regulation rarely reaches and dignity isn’t even debated.

The gig economy just exposed the reality of inequality to the people who previously had the luxury of not seeing it. The doorbell is not the problem. The question is what we do after opening the door.

Visibility is the price of progress. We can either use this discomfort to build something better (which we keep doing continuously as delivery partners are our backbone), or we can ban and over-regulate our way back into ignorance. One of those choices improves lives. The other simply helps the consuming class feel virtuous in the dark.

[Prashant Jain @jain_saabh]

Sunset at South Goa just feels magical ✨ 🌊

[Prashant Jain @jain_saabh]

@vijayshekhar Hype doesn't do justice to the taste you will get in Kota.