Incred Finance

Last updated

Incred Finance
Type Private
Founded2017
FounderBhupinder Singh (Founder & Group CEO) [1]
HeadquartersMumbai
Services Financing
Website https://www.incred.com/

Incred Finance is a private NFI (NBFC) in India. The company focuses on Consumer Loans - Personal Loan, Educations Loans and SME Business Loans. [2] It is headquartered in Mumbai, Maharashtra. [3] It was founded by Bhupinder Singh, ex-head of the Corporate Finance division of Deutsche Bank. [4]

Former Co-CEO of Deutsche Bank, Anshu Jain, joined the Advisory Board of the company. [5] Other members on the board include M D Mallya (former Chairman, Bank of Baroda).

Incred Finance acquired FinTech platform InstaPaisa.com in 2015. [6] [7]

Funding

Incred Finance received an initial round of funding of ₹500–600 Crore from Ranjan Pai (MD & CEO, Manipal Group), Gaurav Dalmia (Founder & Chairman, Landmark Holdings), IDFC PE, and Alpha Capital. [8] Paragon Partners, a private equity firm, invested ₹25 Crore in the company in March 2017. [9]

In 2020 the company secured ₹500 crore in a debt funding round from public sector banks and other financial institutions. [10] [11]

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References

  1. "InCred Finance". The Times of India. timesofindia.indiatimes.com. 3 December 2017. Retrieved 23 December 2017.
  2. "Anshu-backed financial tech lender targets Rs 3k-cr loans – Times of India". The Times of India. Retrieved 27 March 2017.
  3. "Mumbai-Based InCred Finance Raises $75 Million". TechStory. 24 August 2016. Retrieved 27 March 2017.
  4. "Mumbai-Based InCred Financial Secures $75M During Funding Round Led By Former Deutsche Bank Co-CEO". Crowdfund Insider. 24 August 2016. Retrieved 27 March 2017.
  5. "Former Deutsche Bank co-chief Anshu Jain, ex-colleague Bhupinder Singh to launch NBFC in India". The Economic Times. Retrieved 27 March 2017.
  6. "Former Deutsche Bank co-CEO Anshu Jain, others back InCred Finance". VC Circle. Retrieved 27 June 2016.
  7. "Tech in Asia – Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 27 March 2017.
  8. "Former Deutsche Bank co-CEO Anshu Jain, others back InCred Finance". VCCircle. 23 August 2016. Retrieved 27 March 2017.
  9. "Paragon Partners closes two deals worth Rs100 crore" . Retrieved 27 March 2017.
  10. "InCred bags Rs 500 crore in debt funding – ETtech". The Economic Times .
  11. Upadhyay, Harsh (20 July 2020). "InCred raises Rs 500 Cr debt from public sector banks and lenders". Entrackr. Retrieved 27 August 2020.