Incred Finance

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]

Incred Finance
TypePrivate
Founded2017
FounderBhupinder Singh (Founder & Group CEO) [1]
HeadquartersMumbai
ServicesFinancing
Websitehttps://www.incred.com/

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]

References
  1. "InCred Finance". timesofindia.indiatimes.com. 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.
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