Kunal Shah is an Indian businessman and venture capitalist.
Kunal Shah Net Worth
Kunal Shah’s net worth is reported to be over $800 million USD. He is the founder of CRED, a fintech company, based in Bangalore, India, which was founded in April 2018. He is also an investor in multiple companies including Go-Jek, Zilingo, Unacademy, Shuttl, Chillr, Innov8, Lifcare, TinyOwl, Spinny, Jugnoo, Mobile Premier League (MPL), Azani, Tapzo, Runnr, Flyrobe, Razorpay, Voonik, TVF, PocketAces, Rupeek, Dil Mil, and many more.
In 2010, he founded FreeCharge, an Indian financial services company based in Gurugram. It allows users to pay bills such as electricity, gas and telephone, mobile load, broadband, among others. Kunal Shah also served as the company’s CEO for a short time.
He served as the chairman of the Internet and Mobile Association of India.
Being a venture capitalist and investor, Shah has indeed acquired a massive wealth.
Kunal Shah was born on May 20, 1983 in Mumbai, Maharashtra where he also grew up. His father owned a pharmaceutical distribution business. The business struggled and faced a lot of financial crises. This led to their family moving to a small apartment when he was 15 years old.
He obtained his Bachelor of Arts degree in Philosophy from Wilson College in Mumbai, India. He also pursued Master’s of Business Administration from Narsee Monjee Institute of Management Studies in Mumbai but he dropped out.
He was working as a freelancer and as a programmer when he was in college to support his studies. He did this to ease his parents’ financial burden.
One of the people that Shah looks up to is Steve Jobs, the founder of Apple.
Kunal Shah built a small SaaS company called PaisaBack which is a cash-back and promotional discount campaign platform for retailers. This eventually became FreeCharge. In 2010, Kunal Shah co-founded FreeCharge with Sandeep Tandon as they saw the huge potential of internet recharging. In 2015, Snapdeal then bought FreeCharge for approximately $400 million. Shah was elected as the company’s new CEO.
Shah is a well-known angel investor in multiple companies, including Innov8, Spinny, Zepo, Unacademy, Bharat Bazaar, and many more.
He established CRED in April 2018 which is considered as the second fastest growing start-up in India. Cred is an app where users can make credit card payments and earn rewards. It has over 5 million users and processes around 20% of the credit card payments in India. CRED is valued at over $1 billion.
Kunal Shah was a part-time partner at Y Combinator from January 2016 to December 2016. Y Combinator is a seed money start-up which has launched over 3,000 companies, including Reddit, Quora, Airbnb, Coinbase, Cruise, DropBox, InstaCart, and Twitch. He also worked as an Adviser at Sequoia Capital and AngelList.
At Bennett Coleman and Co. Ltd. (Times Group), he has served as the Advisor to the Board since 2017.
Kunal Shah Dating History
Kunal Shah is married to Bhavna Shah who works as a graphic designer.