RedCarpetUp was founded with the mission to provide credit cards and loans to underserved populations in India, particularly those who lack traditional credit histories. The company aims to become the "Capital One of India" by leveraging a full-stack SDK for card issuance, underwriting, capital holding, and collection operations. RedCarpetUp focuses on new-to-credit customers, addressing a significant gap in a market where only 40 million out of 800 million bank account holders have credit cards.

Notable figures affiliated with RedCarpetUp include its founders and key investors who have supported its growth. The company has achieved significant milestones, becoming one of the largest issuers of credit lines to new-to-credit customers in India. By using data-driven approaches to serve those without traditional credit, RedCarpetUp has made a substantial impact on financial inclusion in the country, helping many individuals gain access to credit facilities for the first time.