Cred launches vehicle management platform Garage

economictimes.indiatimes.com:

Fintech startup Cred has entered the vehicle management space and launched a new platform, called Garage, through which it will seek to help users renew their car insurance, and recharge FASTags, among other activities.
Through Garage, Cred is looking to offer users a single dashboard that will allow them to access a round-the-clock concierge service for roadside assistance, help them manage documentation, including their driver’s licence and registration certificate. It will also provide insights on their vehicle spends.

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Garage will also hold maintenance records, performance insights, and track fuel spends to help users tune their vehicle usage on the basis of these insights.

Laying a foundation for insurance distribution
According to at least two people in the know, Cred’s move towards vehicle management is also aimed at providing a strong car insurance distribution platform for its financial partners, as the fintech looks to open newer revenue streams.


Collecting data from users on their vehicles will allow it to provide a more premium data set to insurance partners.
“As expected from Cred, members will also enjoy rewards, offers, and deals across transactions. Members can also renew motor insurance (through the platform) and get member-exclusive perks,” the company said in a press statement.
Taking on Park+
Today, Cred already acts as a credit distribution platform