InCred Capital, the wealth and institutional arm of the InCred Group, is in advanced talks to raise $50 million, according to sources familiar with the deal. The funding round is driven by the company’s impressive performance in the first half of FY25, where it achieved an average revenue run rate of ₹800 crore and a profit before tax of approximately ₹200 crore.
Key Highlights of InCred Capital
As a full-stack financial services platform, InCred Capital offers a range of services including wealth management, asset management, M&A, capital markets, equity research and broking, and equity derivatives. The firm has built a strong reputation through notable transactions such as capital raises for Oyo, E2E, Ugro, and Indiabulls.
InCred Capital’s assets under management (AUM) have surpassed $5 billion, serving family offices, high net worth individuals, corporate treasuries, and institutional clients.
Lead Investors and Valuation
According to another source, the lead investors in this funding round include Ranjan Pai of the Manipal family office, the Motherson Sumi family office, and the MMG family office, alongside the company’s founder Bhupinder Singh. The valuation of InCred Capital is expected to fall between $550 million and $600 million.
At the time of publication, Entrackr’s inquiries to InCred and the investors had yet to receive responses.
Growth and Achievements of InCred Group
InCred Capital’s parent company, InCred Group, has seen significant growth through its lending arm, InCred Finance, which became a unicorn in 2023, securing $60 million in a Series D round led by Ranjan Pai. The company is valued at $1.03 billion, according to an exclusive report by Entrackr.
In FY24, InCred Finance experienced a 49% AUM growth, exceeding ₹9,000 crore, with a notable increase in personal, MSME, and educational loans. The company has also focused on the rising demand for overseas education loans, driven by growing interest in studying abroad.
In 2022, InCred Finance completed a reverse merger with KKR India’s credit arm, allowing it to acquire KKR’s corporate loan book. This strategic move helped InCred shift its focus to building a tech-enabled retail and MSME franchise.
visit: gamicaltech.com