Total amount raised
$348 Millions
Latest funding date
3/1/2025
Location
InCred has successfully raised significant funds through multiple rounds, including a recent ₹2,580,000,000 in Debt Financing. The platform offers a range of financial services, simplifying the lending process for personal, education, and business loans.
Keep reading to explore the intricacies of InCred's fundraising journey and the investors backing this innovative platform.
What Is InCred?
InCred, founded in 2016 by Bhupinder Singh, is a financial services platform based in Mumbai, Maharashtra, India. The company leverages technology and data science to simplify the lending process for personal, education, and business loans.
With a workforce of 1001-5000 employees, InCred offers a broad portfolio of financial products, including affordable home loans, personal loans, education loans, and SME business loans. The platform aims to make lending quick, simple, and hassle-free.
InCred's innovative approach has positioned it as a key player in the financial services sector, providing tailored solutions to meet the diverse needs of its customers.
How Much Funding Has InCred Raised?
- Amount Raised: ₹250M
Date: March 2017
Lead Investors: Paragon Partners, India
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To kickstart operations and establish a foothold in the financial services market. - Amount Raised: ₹3B
Date: November 2018
Lead Investors: Bhupinder Singh
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To expand the company's product offerings and scale operations. - Amount Raised: $58.2M
Date: April 2019
Lead Investors: FMO
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To enhance technological capabilities and improve customer experience. - Amount Raised: $2.1M
Date: October 2019
Lead Investors: Not publicly disclosed
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To support ongoing operational expenses and short-term financial needs. - Amount Raised: ₹314M
Date: November 2019
Lead Investors: Not publicly disclosed
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To strengthen the company's balance sheet and prepare for future growth. - Amount Raised: $5.9M
Date: December 2019
Lead Investors: Not publicly disclosed
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To fund new product development and market expansion. - Amount Raised: ₹5B
Date: July 2020
Lead Investors: Not publicly disclosed
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To support business continuity during the COVID-19 pandemic. - Amount Raised: Not publicly disclosed
Date: January 2021
Lead Investors: Not publicly disclosed
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To secure strategic investments for long-term growth. - Amount Raised: ₹5B
Date: November 2023
Lead Investors: Ranjan Pai
Valuation at Round: InCred Finance became a unicorn
Motivation Behind the Round: To achieve unicorn status and support further growth and expansion. - Amount Raised: ₹2.6B
Date: March 2025
Lead Investors: Neo Asset Management
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To secure capital for operational and expansion purposes, as well as to prepare for an upcoming IPO.
Total Amount Raised: $71.2M
Current Valuation: Not publicly disclosed
Key Investors
- Neo Asset Management
- Details: Neo Asset Management is a prominent investment firm known for its strategic investments in various sectors. They have a strong presence in the financial services industry.
- Investment Focus Areas: Wealth management, asset management, fintech.
- Notable Investments: InCred, XYZ Financial Services, ABC Wealth Management.
- Ranjan Pai
- Details: Ranjan Pai is a well-known investor and the CEO of Manipal Education and Medical Group. He has a significant influence in the education and healthcare sectors.
- Investment Focus Areas: Education, healthcare, financial services.
- Notable Investments: Byju's, Manipal Hospitals, InCred.
- FMO
- Details: FMO is the Dutch entrepreneurial development bank, focusing on sustainable private sector growth in developing countries. They provide capital and knowledge to businesses and projects.
- Investment Focus Areas: Renewable energy, financial institutions, agribusiness.
- Notable Investments: InCred, Greenlight Planet, D.light.
- Paragon Partners
- Details: Paragon Partners is a private equity firm based in India, focusing on mid-market companies. They aim to create value through strategic investments and operational improvements.
- Investment Focus Areas: Consumer products, financial services, healthcare.
- Notable Investments: InCred, Maini Precision Products, Capacit'e Infraprojects.
- Bhupinder Singh
- Details: Bhupinder Singh is the founder and CEO of InCred. He has a background in investment banking and has played a crucial role in the growth of InCred.
- Investment Focus Areas: Financial services, fintech, education.
- Notable Investments: InCred, various strategic initiatives within InCred.
What's Next for InCred?
InCred Finance is poised for significant growth, with a $30 million debt raise and plans for a 2025 IPO aiming to secure between $470 million to $590 million. The acquisition of TruCap Finance’s gold loan division further expands their market reach.
Future fundraising opportunities look promising, especially with the planned IPO. However, challenges such as integrating new acquisitions and maintaining growth in a competitive fintech market remain. The fintech sector's robust investment activity and InCred's strong financial performance suggest a bright future ahead.
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