Mumbai-based InCred Financial Services Ltd, the lending arm of InCred Group, has successfully raised ₹500 crore in its Series D funding round, attaining the status of a unicorn with an estimated valuation of ₹8,800 crore or $1.05 billion. This milestone comes 16 months post the merger between InCred Financial and American private equity firm KKR’s local non-banking finance arm. The investors in this funding round include a global private equity fund, corporate treasuries, family offices, and ultra-high-net-worth individuals, although specific names were not disclosed by the company.
InCred Finance plans to allocate the capital across its core business verticals, focusing on consumer loans, student loans, and MSME (micro, small, and medium enterprises) lending. The firm, founded in 2016 by Bhupinder Singh, a former Deutsche Bank executive, operates as a tech-enabled lending platform. It has attracted investments from various entities, including KKR, Investcorp, Oaks Asset Management, Moore Capital, Elevar Equity, Paragon Partners, and individuals like Ranjan Pai and Gaurav Dalmia. InCred manages a loan book of ₹7,500 crore and envisions becoming a central element in the financial aspirations of Indian families, with plans for a future listing to unlock value for shareholders.
That’s fantastic news! InCred Finance is making waves in the financial industry. They have recently secured an impressive ₹500 crore in their Series D funding round, becoming a unicorn with a valuation of ₹8,800 crore. They are definitely becoming a major player in the tech world. Sending my best wishes to the InCred Finance team!
~ Dr Shishir Gupta founder & CEO of StartupLanes
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