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Mumbai’s InCred Financial Services, a non-banking finance company (NBFC), is lined up to raise a $60M in new funding. This round will involve a broad spectrum of investors such as corporate treasuries, global private equity funds, family offices, and ultra-high-networth individuals.

  • Post-funding Status: InCred has reached a valuation of a billion dollars, earning it the coveted ‘unicorn’ status. However, while the full commitment is already in place, the identities of these investors remain confidential.
  • InCred’s Vision and Leadership: Under the guidance of its founder and group CEO, Bhupinder Singh, InCred has been confident about its ‘risk first’ approach, innovative technology, and elite management team.
  • Diverse Portfolio Post Merger: In 2022, InCred Finance and KKR India Financial Services merged to form an integrated entity under the banner of InCred Finance. This merger expanded InCred’s portfolio which now includes consumer, MSME, and student loans.
  • Utilizing the Funds: The capital raised will be channeled across InCred’s core lending ventures. The demand for student loans has skyrocketed, particularly as US student visas for Indians have doubled. InCred’s operations in the MSME business loans sector, especially those against property, and consumer lending have also experienced substantial growth.
  • Track Record: Within six years, InCred Finance has constructed a loan book worth Rs 7,500 crore, achieving a compound annual growth rate of over 50% in the past three years. The company reported a pre-tax profit of approximately Rs 170 crore in the first half of the current fiscal year.

InCred has previously secured funding from distinguished institutional investors, including Oaks Asset Management, Dutch development finance company FMO, Moore Strategic Ventures, and Elevar Equity among others.

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