Founded in 2015 and based out of the city of Mumbai, CredR is a pioneer in online marketplace for listing and purchasing verified, pre-owned vehicles at the fairest value. CredR stands for Credible Resale and was born out of a first hand saddening experience that the founders had to go through when they set out to buy a pre-owned bike. CredR plans to reach new heights with a multi dimensional approach of changing the customers’ perception towards the pre-owned vehicles. The platform connects buyers and sellers to ensure genuine, transparent and convenient transactions of buying and selling of pre-owned bikes.
CredR was founded by Sumit Chhazed, Nikhil Jain and Nittin Mittal under the parent company Incredible Technologies Pvt Ltd. All three of the founders are IIT alumni and prior to CredR, they have successfully structured and executed two ventures namely: Enelek Power-a start-up aimed at providing energy saving solutions in India and Coursewave Eduventures- a technology focused education company partnering with best universities and institutions of India and providing online engaging courses to be accessible to everyone for free.
Nittin explains the simple process that is involved to transform a worried and confused pre-owned bike seeker to a happy and content bike owner-
“The process is simple – Choose-Try-Buy. You browse through the list of bikes on our website and explore as per your wishes. Then Filter and shortlist the bikes that you like and also view the detailed inspection report from our Auto Experts and the CredR score. Apart from the thorough inspection sheet, we also provide you with a free test ride. A relationship manager is specially assigned to make sure there are no hiccups throughout your journey with CredR. If you Like the vehicle just drop in with your Identity and Address Proof at the seller’s location. Pay up and it’s all yours.”
Sumit is responsible for Product and Innovations. 25 year old Sumit is an avid trekker and adventure sports enthusiast and a people’s person. Sumit has been instrumental in setting up the 300+ people organization from scratch, technology, usability, roll-out, differentiating niche positioning and creating strong product designing. The passion for entrepreneurship led him and his other two co-founders to hire many such entrepreneurs like them who can drive the venture with the same passion as them.
Nikhil Jain handles the new business opportunities received by the company. All of 26, Nikhil brings in expertise and zest for entrepreneurship. Nikhil’s role is exploring new avenues for expansion, creating channel partners, establishing liaison networks. His agenda is simple – to make CredR the leading used automobiles marketplace in the country and then move on to conquer the world.
Nittin Mittal leads everyday operations at CredR. He believes that a process is only as strong as its weakest operator, and the same formula drives operations at CredR. With strong impetus on efficiency and adaptability to challenging variables, the aim is to transform CredR into operational clockwork – with the right blend of automation and human intervention. Nitin helps CredR grow and sustain in taking giant leaps in user experience and satisfaction. Structuring and scaling all features and post sales services at CredR. He is working towards building process efficiency.
While talking to Knowstartup.com anout their offering, Sumit says –
“The company’s offerings have been designed with the mission of providing quality products with complete transparency in transactions and most importantly to provide convenience to its customers.”
Adding on to what makes them stand out Nikhil adds –
“What makes it special and reliable for customers is the credibility factor that comes with each and every bike being hand inspected. All the uncertainty and reluctance people associate with buying used vehicles have consciously been kept in mind, and as a result we on our platform lists only the best verified bikes for sale.”
The company that operates currently in Mumbai, Delhi, Bengaluru and Pune provides services like free bike inspection, free roadside assistance, test rides at the home of the buyer, a six months warranty, and fair pricing of every bike sold on the website. CredR has sold over 10,000 motorcycles since its launch, and is aiming to disrupt the over $15 billion pre-owned two-wheeler market in India. In the month of September last year the startup raised its Series A funding round of USD 15 million by Eight Roads Venture, which is Fidelity’s proprietary investment arm. Earlier in the same year they raised seed funding from leading investors including K. Ganesh, Snapdeal co-founders Kunal Bahl & Rohit Bansal and Amit Agarwal of Amazon India head.