Kunal Shah’s net worth is once again a hot topic as a viral LinkedIn post by Adarsh Samalopanan, a Senior Consultant at Deloitte, questions the financial performance of Shah’s ventures-Freecharge and CRED. Known for founding two of India’s most high-profile fintech startups, Shah’s entrepreneurial journey is being reevaluated amid criticism about long-standing losses and lack of profitability.
In the now-trending post, Samalopanan points out that Freecharge, launched by Shah in 2010, generated ₹35 crore in revenue by 2015 but ended up with losses worth ₹269 crore due to cashback-heavy strategies. Despite being acquired by Snapdeal for ₹2,800 crore in 2015, Freecharge was later sold to Axis Bank for just ₹370 crore in 2017-sparking concerns about overvaluation and sustainability.
CRED’s Losses and Shah’s Response Attention has now shifted to CRED, Shah’s current venture launched in 2018. According to the post, CRED has posted ₹4,493 crore in revenue but incurred net losses of ₹5,215 crore over seven years. Samalopanan’s critique questions why Kunal Shah continues to receive praise despite zero profitability across all financial years. In a rare move, Kunal Shah acknowledged the criticism, commenting:”Absolutely correct. We should be celebrating thousands of entrepreneurs who have created very profitable companies without external capital.”
Shah emphasized that entrepreneurship involves taking risks, especially in an evolving economy where even job security may diminish in a post-AI world. “We need more job creators,” he added. What Is Kunal Shah’s Net Worth in 2025? As of 2025, Kunal Shah’s estimated net worth is believed to be around ₹5,000 crore ($600 million), primarily based on valuations from CRED and his earlier Freecharge exit. However, this figure is speculative and fluctuates depending on market conditions, investor confidence, and valuation cycles. Despite ongoing financial losses in his ventures, Shah’s net worth remains high due to equity stakes, brand value, and strategic influence in India’s startup ecosystem.