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HomeBankingIndia’s InCred Finance secures unicorn status with $60m Series D funding

India’s InCred Finance secures unicorn status with $60m Series D funding

Date:

  • 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).

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