InCred, the new-age financial services platform that provides Consumer and MSME loans, has raised Rs. 500 crores debt funding from various public sector banks and public financial institutions. The debt issuance took the form of Term Loans, NCDs (under LTRO and PCG scheme) and Market Linked Debentures. This round of debt financing will boost InCred’s lending expansion across select segments in the Consumer, Education and MSME markets.

This funding comes within a month of the news of the fintech lender acquiring fintech platform Qbera to augment its digital distribution capabilities.

Speaking on the development, Mr. Vivek Bansal, Group CFO of InCred said “InCred is strengthening its funding base to support its growth vision. The recently concluded debt issuance is an endorsement of our business model, risk and analytics philosophy, and our prudent ALM policies.

InCred had earlier raised Rs 600 crore equity Series A funding round which was led by Dutch

development finance institution FMO, the round also saw participation from US-based asset

manager Moore Capital, India/Latin America-focused PE fund Elevar, and Alpha Capital (an early- stage investor of InCred). InCred has an equity base of over 1,000 crores with a marquee investor roster including the Dutch development bank FMO, Moore Capital from the USA, Investcorp Bahrain, Oaks Capital and others including Dr. Ranjan Pai of Manipal and Anshu Jain, Ex CEO of Deutsche Bank.

Since its inception in 2016, InCred has added over 500,000 customers in 20 plus cities across India and has established a strong reputation in the market for its risk management capabilities and cutting edge tech backbone.

About InCred:
InCred is a new-age financial services group founded with the vision of providing credit to Incredible India and thus, furthering financial inclusion in the country. The company endeavors to disrupt the status quo in traditional lending that seems to exclude those most in need of credit, due to outdated, rigid, and often inefficient processes. The company has designed its products with a razor-sharp focus on serving the unique needs of these under-served segments of customers and leverages technology and data-science to make lending quick, simple, and hassle-free. It aspires to be the key partner for all financial requirements of an Indian family. 

Founded in the year 2016 by Bhupinder Singh, former head of Investment Banking Deutsche Bank Asia-Pacific, the company launched market operations in January 2017.

InCred offers a broad portfolio of products that cut across key categories such as Personal Loans, SME Loans & Education Loans


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