CRED’s Kunal Shah faces heat over ₹5215Cr loss, responds to LinkedIn debate

A LinkedIn post by Deloitte Senior Consultant Adarsh Samalopanan has sparked fresh debate in India’s startup ecosystem by calling out Kunal Shah for running ventures that have remained unprofitable for over 15 years.

Shah, the visionary behind Freecharge and CRED, is often praised across media for his innovative ideas and influence in fintech. However, Samalopanan presented a contrasting opinion, drawing attention to the significant financial losses reported by Shah’s companies.

While Shah continues to be celebrated for his entrepreneurial flair, the post questions whether vision alone is enough without a clear path to profitability.