India’s InCred Finance secures unicorn status with $60m Series D funding
Indian fintech InCred Finance has secured $60 million in a Series D funding round which sees the firm become the country’s latest unicorn with a valuation of $1.05 billion.
InCred Finance raises $60m Series D
InCred has not disclosed the investors who took part in the Series D, but mentions that the round “garnered significant interest” from a global private equity fund, corporate treasuries, family offices and ultra-high-net-worth individuals.
InCred Finance is the lending arm of InCred Group and was initially launched in 2016. The group also operates InCred Capital, which focuses on wealth and asset management, and InCred Money for retail bonds and alternative investments.
InCred Finance claims to have seen “rapid growth” since its launch, with a compound annual growth rate of more than 50% in the last three years, as well as a “sharp positive trajectory” in profitability.
Bhupinder Singh, founder and group CEO of InCred, says the funding positions the company for “sustained growth” in the coming years.
“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.”
