Wealth arm 'InCred Capital' set to lift $50 million from Family Offices
Two sources acquainted with the deal's specifics claim that InCred Capital, the wealth and institutional division of the InCred Group, is in advanced talks to raise $50 million.
One of the individuals, who asked to remain anonymous because the discussions are private, stated, "The company's strong performance in the first half of FY25, with an average revenue run rate of Rs 800 crore and a profit before tax of roughly Rs.200 crore, is what drove the current investment round."
InCred Capital is a full-stack financial services platform that combines equities research and broking, capital markets, wealth management, asset management, M&A, and equity derivatives.
The investment banking branch of InCred Capital has been in the headlines lately for a number of noteworthy deals, such as capital raises for Indiabulls, Oyo, E2E, and Ugro. With the help of family offices, high net worth individuals, corporate treasuries, and institutional clients, the platform has gathered over $5 billion in AUM.
Another source who also spoke on the condition of anonymity said that lead investors in InCred Capital's latest round include Bhupinder Singh, the founder, and Ranjan Pai through the Manipal, Motherson Sumi, and MMG family offices. The aforementioned source stated, "The Company’s valuation is projected to range between $550 million and $600 million."
At the time of publication, Entrackr's Friday requests to InCred had not been replied, and its queries to the aforementioned investor had not been promptly returned.
One of the two businesses to reach unicorn status in 2023 was InCred Group's lending division, InCred Finance, which raised $60 million in a Series D Funding round headed by MEMG's Ranjan Pai and others. The company's $1.03 billion valuation following their unicorn round was exclusively covered by Entrackr.
Assets under management (AUM) for personal, MSME, and education loans at InCred Finance increased by 49% in FY24 to surpass Rs 9,000 crore. Growth in international education loans was particularly notable.
After a reverse merger with KKR India's credit division, InCred Finance acquired KKR's corporate loan book in 2022. But soon after, the corporate loan book was closed, which gave InCred the opportunity to refocus on developing a tech-enabled retail and MSME franchise.
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One of the individuals, who asked to remain anonymous because the discussions are private, stated, "The company's strong performance in the first half of FY25, with an average revenue run rate of Rs 800 crore and a profit before tax of roughly Rs.200 crore, is what drove the current investment round."
InCred Capital is a full-stack financial services platform that combines equities research and broking, capital markets, wealth management, asset management, M&A, and equity derivatives.
The investment banking branch of InCred Capital has been in the headlines lately for a number of noteworthy deals, such as capital raises for Indiabulls, Oyo, E2E, and Ugro. With the help of family offices, high net worth individuals, corporate treasuries, and institutional clients, the platform has gathered over $5 billion in AUM.
Another source who also spoke on the condition of anonymity said that lead investors in InCred Capital's latest round include Bhupinder Singh, the founder, and Ranjan Pai through the Manipal, Motherson Sumi, and MMG family offices. The aforementioned source stated, "The Company’s valuation is projected to range between $550 million and $600 million."
At the time of publication, Entrackr's Friday requests to InCred had not been replied, and its queries to the aforementioned investor had not been promptly returned.
One of the two businesses to reach unicorn status in 2023 was InCred Group's lending division, InCred Finance, which raised $60 million in a Series D Funding round headed by MEMG's Ranjan Pai and others. The company's $1.03 billion valuation following their unicorn round was exclusively covered by Entrackr.
Assets under management (AUM) for personal, MSME, and education loans at InCred Finance increased by 49% in FY24 to surpass Rs 9,000 crore. Growth in international education loans was particularly notable.
After a reverse merger with KKR India's credit division, InCred Finance acquired KKR's corporate loan book in 2022. But soon after, the corporate loan book was closed, which gave InCred the opportunity to refocus on developing a tech-enabled retail and MSME franchise.
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