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InCred in the bucket of Unicorns after Raising Rs. 504 Crore


In the Series D Round, Fintech Firm, Incred Finance raised $60 Million from an equity round that was led by Ranjan Pai of MEMG who invested $9 million followed by Ravi Pillai, Chairman at RP Group of Companies, and Ram Nayak, Global Co-Head of the Investment Bank and Head of Fixed Income & Currencies at Deutsche Bank, who invested $5.4 million and $1.2 million, respectively. The fundraiser also saw participation from several large ultra-high-networth individuals and Family Offices, as well as institutional investors like Varanium Capital Advisors and Sattva Group..


Bhupinder Singh, Founder & Group CEO of InCred, expressed his confidence in the funding’s impact, stating, “The funding will strengthen our balance sheet and provide us enough runway for the next couple of years of expansion. With our ‘Risk First’ approach, cutting-edge technology, and class-leading management team, we are well-positioned for sustained growth in the business over the years to come.”


InCred Finance plans to strategically deploy the raised capital across its core business verticals, focusing on consumer loans, student loans, and MSME lending. The company highlighted the surging market for student loans in India, driven by a doubling of US student visas issued to Indians from 50,000 to 100,000 over the past two years. Simultaneously, the MSME business is experiencing substantial growth, especially in the secured LAP market nationwide, while the consumer lending business benefits from healthy demand driven by overall economic growth and the usual festive season boost.


Incred Finance Revenue for FY23 stood at Rs. 865 Crore, an increase by 77% from FY22 Revenue of Rs. 488 Crore. Companies Net Profit also increased from Rs. 30.8 Crore in FY22 to Rs. 109 Crore in FY23.


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