back Back

InCred secures $59m in Series D round, set to enter Unicorn Club

By Gloria Mathias

November 10, 2023

  • Diwali Fintech
  • Diwali News
  • Finace Newsm Fintech News
Share

InCred Finance, Finace Newsm Fintech News, India Funding, India Finance, Fintech Funding, Lending Business, MSME Lending, Loans Management, Lending Solutions,  InCred, a new-age financial services company, has secured commitments totalling INR 500 crore ($59 million) in its latest round of equity funding, positioning the company to join the ranks of Indian unicorns after the closure of its Series D fundraise.

The equity round garnered interest from various investors, including a global Private Equity Fund, Corporate Treasuries, Family Offices, and UHNIs, showcasing overwhelming support from the investor community.

The equity capital of INR 500 Crores will be strategically deployed across InCred’s core business verticals: Consumer loans, Student loans, and MSME lending, all three of which have seen growth.

The market for student loans in India has surged, driven by the doubling of US student visas issued to Indians from 50,000 to 100,000 over the past two years. The MSME business is seeing substantial growth, particularly in the secured LAP market nationwide. Finally, the consumer lending business is benefiting from healthy demand driven by overall economic growth as well as the usual festive season boost.

Bhupinder Singh, Founder & Group CEO of InCred, shared, “This funding commitment marks a significant milestone in our journey and takes us into the ranks of Unicorns. We are deeply grateful for the overwhelming support our investors have shown. With our ‘Risk First’ approach, cutting-edge technology, and class-leading management team, we are wellpositioned for sustained growth in the business over the years to come. Our goal is to make InCred a central part of every Indian family’s financial aspiration, in line with the powerful growth seen by the Indian economy, and to eventually list the business unlocking significant value for all our shareholders.”

The company’s growth has been driven by InCred’s commitment to ensuring that all lending and business growth decisions are guided by its strong risk-processes and proprietary risk models powered by its in-house tech engine, which is omnipresent across the entire product value chain. This approach, combined with a management team boasting deep domain expertise, has solidified InCred’s position in the industry.

Previous Article

November 10, 2023

IN Groupe acquires e-ID business from Nexi

Read More
Next Article

November 10, 2023

Swan advances internationalization with a new office in Amsterdam

Read More






IBSi Daily News Analysis

June 13, 2024

Diwali Fintech

Are payroll and financial statement fraud dual challenges facing UK SMEs?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 13, 2024

Flexys partners with Acquired.com for debt collection

Read More

June 12, 2024

Yabx & SimpliFi team to expand access to card issuance in MENA

Read More

June 12, 2024

SaaScada renews partnership with NEXA for financial reporting

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023