- Funding News:
- Indian fintech InCred Finance secures $60 million in Series D funding.
- Valuation reaches $1.05 billion, making InCred the latest unicorn in India.
- Investor Details:
- Investors in Series D not disclosed.
- Notable interest from global private equity fund, corporate treasuries, family offices, and ultra-high-net-worth individuals.
- Company Background:
- InCred Finance, the lending arm of InCred Group, launched in 2016.
- InCred Group also operates InCred Capital for wealth and asset management, and InCred Money for retail bonds and alternative investments.
- Financial Performance:
- InCred Finance reports rapid growth since 2016.
- Compound annual growth rate of over 50% in the last three years.
- Shows a sharp positive trajectory in profitability.
- CEO’s Perspective:
- Bhupinder Singh, founder and group CEO, sees the funding as positioning the company for sustained growth.
- Aims to make InCred a central part of every Indian family’s financial aspirations.
- Plans to eventually list the business for the benefit of shareholders.
- Utilization of Capital:
- InCred plans to use the $60 million to fuel core business verticals.
- Focus areas include consumer loans, student loans, and lending to micro, small, and medium-sized enterprises (MSMEs).
India’s InCred Finance secures unicorn status with $60m Series D funding
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