Total amount raised
$348 Million
Latest funding date
3/1/2025
Location
InCred has successfully raised funds through 13 funding rounds, with the latest being a Debt Financing round. The company has attracted a total of 35 investors, including notable names like InCred Capital and Morgan Stanley India Infrastructure.
InCred's fundraising journey also includes 19 investments and 4 acquisitions, with recent notable exits such as Indian School Finance Company and Moneyboxx Finance. Keep reading to explore the intricacies of InCred's funding and the investors backing this financial services platform.
What Is InCred?
InCred is a financial services platform based in Mumbai, Maharashtra, India. The company focuses on simplifying the lending process for personal, education, and business loans. Operating within the financial services industry, InCred is involved in consumer lending, finance, fintech, and lending.
With an employee count ranging from 1001 to 5000, InCred has established a significant presence in the market. The company has raised funds through multiple rounds and is actively engaged in investments and acquisitions, showcasing its strong growth and involvement in the financial sector.
How Much Funding Has InCred Raised?
- Debt Financing
- Amount Raised: $30 million
- Date: March 2025
- Lead Investors: Neo Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure debt funding through the issuance of non-convertible debentures
- Series D
- Amount Raised: $60.5 million
- Date: December 2023
- Lead Investors: High-net-worth individuals, including early backers like Ranjan Pai
- Valuation at Round: Became a unicorn (valuation of at least $1 billion)
- Motivation Behind the Round: General growth and expansion
- Debt Financing
- Amount Raised: $51.6 million
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand lending operations
- Debt Financing
- Amount Raised: $5.9 million
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial services
- Series A
- Amount Raised: $58.2 million
- Date: April 2019
- Lead Investors: FMO
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and market entry
Total Amount Raised: $206.2 million. Current Valuation: At least $1 billion.
Key Investors
- Morgan Stanley India Infrastructure
- Details: Morgan Stanley India Infrastructure is a division of Morgan Stanley focused on infrastructure investments in India. It has been a key player in funding various infrastructure projects across the country.
- Investment Focus Areas: Infrastructure, real estate, energy.
- Notable Investments: InCred, ReNew Power, Continuum Wind Energy.
- Neo Group
- Details: Neo Group is an investment firm that provides wealth and asset management services. It has a strong presence in the financial services sector.
- Investment Focus Areas: Wealth management, asset management, financial services.
- Notable Investments: InCred, various undisclosed financial services firms.
- Ranjan Pai
- Details: Ranjan Pai is a prominent Indian entrepreneur and investor, known for his investments in the healthcare and education sectors. He is the chairman of the Manipal Education and Medical Group.
- Investment Focus Areas: Healthcare, education, financial services.
- Notable Investments: InCred, Byju's, Manipal Hospitals.
- FMO
- Details: FMO is the Dutch development bank that supports sustainable private sector growth in developing countries. It focuses on empowering entrepreneurs and businesses.
- Investment Focus Areas: Financial institutions, energy, agribusiness.
- Notable Investments: InCred, D.light, Greenlight Planet.
- MAS Financial Services
- Details: MAS Financial Services is a leading Indian non-banking financial company (NBFC) that provides a range of financial products and services. It focuses on serving the underserved segments of the market.
- Investment Focus Areas: Microfinance, SME finance, housing finance.
- Notable Investments: InCred, various microfinance institutions.
What's Next for InCred?
InCred's future looks promising with significant opportunities on the horizon. The company is gearing up for an IPO in the latter half of 2025, aiming to raise between $470 million and $590 million. This move is expected to provide substantial capital for expansion and solidify its market position. Additionally, the recent acquisition of TruCap Finance’s gold loan division will help InCred diversify its offerings and tap into new customer segments.
However, the path forward is not without challenges. The competitive fintech landscape and potential regulatory changes could pose hurdles. Managing the newly raised debt and ensuring timely repayments will also be crucial for sustained growth. Despite these challenges, InCred's strong financial performance and strategic acquisitions position it well for future success.
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