CRED vs Toast: Founders, CEOs and History
CRED was founded in 2018 by Kunal Shah and is led by Miten Sampat (interim CEO). Toast was founded in 2011 by Aman Narang, Steve Fredette, Jonathan Grimm and is led by Aman Narang.
Company facts
Founders
CRED
Kunal Shah
Kunal Shah founded CRED in 2018 with a highly contrarian premise: instead of building financial products for the unbanked masses, he focused exclusively on the top 1% of India's most creditworthy individuals.
Toast
Aman Narang
Aman Narang co-founded Toast in 2011 alongside Steve Fredette and Jonathan Grimm. Originally attempting to build a mobile payment app for restaurants, the founders pivoted to building a complete Android-based point-of-sale system.
Steve Fredette
Steve Fredette co-founded Toast in 2011. As President and long-time product visionary, he architected the company's shift from a simple POS hardware provider into a comprehensive software ecosystem handling payroll, inventory, and online ordering for restauran…
Jonathan Grimm
Jonathan Grimm co-founded Toast and served as its Chief Technology Officer. He built the initial cloud-native backend that allowed restaurants to manage menus and view analytics from anywhere, a massive upgrade over the hard-wired, on-premise servers used by l…
CEOs and their tenures
CRED
- Kunal Shah2018–2026
Founder & CEO
Philosophy graduate of Wilson College and co-founder of FreeCharge; left CRED in June 2026 to become global head of WhatsApp at Meta.
Source - Miten Sampat2026–present
Interim Chief Executive Officer
As a key executive and former Times Internet executive, he drives the incredibly complex monetization strategy of the platform, attempting to justify its massive multi-billion dollar valuation.
Source
Toast
- Chris Comparato2015–2023
Chief Executive Officer
As CEO from 2015 to 2023, he scaled the company from a small startup into the dominant cloud POS provider in the US restaurant industry, increasing locations served to over 100,000.
Source - Aman Narang2024–present
Co-Founder and Chief Executive Officer
He successfully guided the company toward GAAP profitability while maintaining massive market share growth against rivals like Square and Clover.
Source
Timeline: CRED and Toast side by side
2011Toast
Toast Founded in Cambridge by MIT Endeca Alumni
Aman Narang, Steve Fredette, and Jonathan Grimm founded Toast to build cloud software for restaurants.
2013Toast
Pivots from Mobile Consumer App to Full Restaurant POS
Pivoted to a complete cloud restaurant POS system, signing its first commercial restaurant in Cambridge.
2015Toast
$30M Series B Led by Bessemer Venture Partners
Raised $30 million, crossing 1,000 restaurant locations and expanding regional field sales across the US.
2018CRED
Kunal Shah starts Dreamplug Technologies in Bengaluru and launches CRED, raising a reported $30 million seed round.
2018Toast
$115M Series D at $1.4B Valuation & Launches Toast Go
Raised a $115 million Series D led by TCV and Tiger Global, reaching unicorn status, and launched the Toast Go handheld.
2019CRED
Raises a $120 million Series B led by Ribbit Capital.
2020CRED
Becomes an official IPL partner and launches CRED Cash personal credit lines.
2020Toast
$400M Series F at $4.9B Valuation & COVID-19 Operational Pivot
Raised a $400 million Series F at a $4.9 billion valuation in February 2020, then cut about half its workforce in April 2020 as COVID-19 shut dining rooms.
2021CRED
Becomes a unicorn with a $215 million Series D at $2.2 billion, then a $251 million Series E at $4.01 billion; acquires HipBar and Happay.
2021Toast
Historic Initial Public Offering on the NYSE (NYSE: TOST)
Went public on the New York Stock Exchange, raising $870 million at an opening valuation of $20 billion.
2021Toast
Toast IPO
Toast went public on the New York Stock Exchange in September 2021.
2022CRED
Raises $140 million Series F led by GIC at a $6.4 billion valuation; acquires CreditVidya and takes a minority stake in LiquiLoans.
2023Toast
Expands to Canada, UK and Ireland; Crosses 100,000 Locations
Began selling outside the US and passed 100,000 restaurant locations.
2024CRED
Acquires wealth platform Kuvera in February; FY24 revenue rises 66% to ~$287 million (₹2,473 crore).
2024Toast
Aman Narang Appointed CEO & Toast Achieves GAAP Profitability
Co-founder Aman Narang became CEO on January 1, 2024; Toast reported $19 million of GAAP net income for the year, its first annual profit.
2025CRED
Raises $72 million led by GIC in May at about $3.5 billion, a down round from its 2022 peak.
2025Toast
Revenue Reaches $6.15B and Net Income $342M
Added a record 30,000 net locations to about 164,000 and processed about $195 billion in GPV.
2026CRED
Reports FY25 revenue of ~$317 million (₹2,735 crore); in June, Meta leads a $900 million Series H at about $4.5 billion, Kunal Shah joins Meta to lead WhatsApp and Miten Sampat becomes interim CEO.
2026Toast
About 180,000 Locations and $2.4B ARR by Mid-Year
Q2 2026 revenue rose 23% to $1.91 billion with a record 9,500 net location adds.
Acquisitions
CRED
- Kuvera (BaralMusk Technology)2024Undisclosed
- CreditVidya2022Undisclosed
- Happay2021$180M
- HipBar2021Undisclosed
Toast
- Delphi Display Systems2023Undisclosed
- xtraCHEF2021Undisclosed
- Sling2021Undisclosed
Questions about CRED vs Toast
Who is the CEO of CRED and Toast, Inc.?
CRED is led by Miten Sampat (interim CEO) and Toast, Inc. is led by Aman Narang. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was CRED founded vs Toast, Inc.?
Toast, Inc. was founded in 2011 — 7 years before CRED, which was founded in 2018. Toast, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger CRED.
How many employees does CRED have compared to Toast, Inc.?
CRED employs approximately 1,200 people, while Toast, Inc. employs approximately 6,500. Toast, Inc. has the larger workforce at 6,500 employees, compared to CRED's 1,200. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are CRED and Toast, Inc. headquartered?
CRED is headquartered in India and Toast, Inc. is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded CRED and Toast, Inc.?
CRED was founded by Kunal Shah. Toast, Inc. was founded by Aman Narang, Steve Fredette, Jonathan Grimm.
Which company has a longer operating history — CRED or Toast, Inc.?
Toast, Inc. has been operating for approximately 15 years, making it the more established of the two companies. CRED has been in operation for around 8 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the CRED vs Toast overview