Updated: Jul 21, 2020
Fintech platform that provides consumer and MSME loans, InCred raised Rs 500 cr in a debt funding round 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. The financing will boost InCred’s lending expansion across select segments in the consumer, education and MSME markets.
InCred has an equity base of over 1,000 cr with backing from marquee investors including the Dutch development bank FMO, Moore Capital from the USA, Investcorp Bahrain, Oaks Capital and others including Ranjan Pai of Manipal and Anshu Jain, Ex CEO of Deutsche Bank.
“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,” said Vivek Bansal, Group CFO of InCred.