CRED vs Wise: Founders, CEOs and History
CRED was founded in 2018 by Kunal Shah and is led by Miten Sampat (interim CEO). Wise was founded in 2011 by Kristo Käärmann, Taavet Hinrikus and is led by Kristo Käärmann.
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.
Wise
Kristo Käärmann
Kristo Käärmann co-founded TransferWise with Taavet Hinrikus in 2011 and has been chief executive since 2017, when Hinrikus stepped back from the CEO role.
Taavet Hinrikus
Taavet Hinrikus co-founded TransferWise in 2011 and served as its first chief executive until 2017. He later chaired the board before stepping down from that role, and has since focused on investing in early-stage companies. Taavet Hinrikus was born in 1981.
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
Wise
- Taavet Hinrikus2011–2017
Co-founder and CEO
As Co-Founder (and the absolute first employee at Skype), he provided the critical early vision and venture capital networking required to turn a simple idea into a massive global fintech giant.
Source - Kristo Käärmann2017–present
Co-founder and CEO
As Co-Founder and CEO, he acts as the absolute driving operational force, maintaining the company's fanatical obsession with forcing transfer fees as close to zero as mathematically possible.
Source
Timeline: CRED and Wise side by side
2011Wise
TransferWise launches
Kristo Käärmann and Taavet Hinrikus launch TransferWise in London.
2013Wise
Valar Ventures Investment
Peter Thiel's Valar Ventures led a $6 million investment in TransferWise in 2013.
2014Wise
Series B Funding
TransferWise raised $25 million in 2014 in a round that included Richard Branson.
2015Wise
$58 million round led by Andreessen Horowitz
TransferWise raised $58 million in a Series C round led by Andreessen Horowitz in January 2015, taking total funding past $90 million.
2017Wise
Multi-currency account
The Borderless account, now the Wise Account, lets customers hold balances in several currencies.
2018CRED
Kunal Shah starts Dreamplug Technologies in Bengaluru and launches CRED, raising a reported $30 million seed round.
2019CRED
Raises a $120 million Series B led by Ribbit Capital.
2019Wise
$3.5 Billion Valuation
A secondary share sale in May 2019 valued TransferWise at $3.5 billion.
2020CRED
Becomes an official IPL partner and launches CRED Cash personal credit lines.
2020Wise
$5 Billion Valuation
A secondary share sale in July 2020 valued TransferWise at $5 billion.
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.
2021Wise
Rename and London direct listing
TransferWise becomes Wise and lists directly on the London Stock Exchange in July.
2022CRED
Raises $140 million Series F led by GIC at a $6.4 billion valuation; acquires CreditVidya and takes a minority stake in LiquiLoans.
2024CRED
Acquires wealth platform Kuvera in February; FY24 revenue rises 66% to ~$287 million (₹2,473 crore).
2025CRED
Raises $72 million led by GIC in May at about $3.5 billion, a down round from its 2022 peak.
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.
2026Wise
Nasdaq primary listing
Wise begins trading on Nasdaq under WSE on May 11, 2026, keeping a secondary LSE listing.
2026Wise
FY2026 results
Wise reports net revenue of $2,502.8 million and net income of $498.7 million for the year ended March 31, 2026.
Acquisitions
CRED
- Kuvera (BaralMusk Technology)2024Undisclosed
- CreditVidya2022Undisclosed
- Happay2021$180M
- HipBar2021Undisclosed
Questions about CRED vs Wise
Who is the CEO of CRED and Wise Group plc?
CRED is led by Miten Sampat (interim CEO) and Wise Group plc is led by Kristo Käärmann. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was CRED founded vs Wise Group plc?
Wise Group plc was founded in 2011 — 7 years before CRED, which was founded in 2018. Wise Group plc'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 Wise Group plc?
CRED employs approximately 1,200 people, while Wise Group plc employs approximately 5,499. Wise Group plc has the larger workforce at 5,499 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 Wise Group plc headquartered?
CRED is headquartered in India and Wise Group plc is headquartered in United Kingdom. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded CRED and Wise Group plc?
CRED was founded by Kunal Shah. Wise Group plc was founded by Kristo Käärmann, Taavet Hinrikus.
Which company has a longer operating history — CRED or Wise Group plc?
Wise Group plc 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 Wise overview