Fintech firm InCred 2nd unicorn in ’23 after Zepto – Times of India

by The Technical Blogs


BENGALURU:InCred Holdings, the parent of InCred Financial Services, has turned a unicorn (valued at over $1 billion) after it raised Rs 500 crore from a clutch of investors including a global PE fund, corporate treasuries, family offices, and ultra high net-worth individuals (UHNIs).
The fintechcompany, however, didn’t disclose the names of the investors.Thefunding would be deployed across InCred’s core business verticals: consumer loans, student loans, and MSME lending.
Incred is the second startup to enter the Indian unicorn club in 2023 after quick commerce platform Zepto (August fund-raise).
“Our goal is to make InCred a central part of every Indian family’s financial aspirations, in line with the powerful growth seen by the Indian economy, and to eventually list the business unlocking significant value for all our shareholders,” said Bhupinder Singh, founder and group CEO of InCred.
InCred’s business growth decisions are guided by its proprietary risk-models powered by its tech engine, which is present across the product value chain. InCred Finance’s loan book has grown to Rs 7,500 crore, a CAGR of 50% over the last three years.


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