InCred Finance
Overview
InCred Finance is a prominent financial services company in India, founded by Bhupinder Singh in 2016. It is based in Mumbai and operates primarily as a non-banking financial company (NBFC). InCred Finance leverages technology and data analytics to offer a range of financial services, including personal loans, education loans, and MSME (Micro, Small, and Medium Enterprises) loans. The company has raised significant capital, amounting to $318 million over several funding rounds, and is valued at approximately $1.04 billion as of December 2023.
Recent Developments
- May 2025: InCred Financial Services reported a 2.39% decline in standalone net profit for the March 2025 quarter, standing at ₹87.98 crore, compared to ₹90.13 crore in the prior year. However, the company witnessed a 51.48% increase in sales, reaching ₹539.13 crore from ₹355.92 crore during the same period a year ago. For the fiscal year ending March 2025, InCred reported an 18.19% increase in net profit to ₹372.17 crore, with sales rising 47.49% to ₹1871.97 crore.
- April 2025: InCred announced its plan to acquire the gold loan portfolio of TruCap Finance Limited in a deal valued at approximately ₹330 crore. This acquisition is expected to diversify InCred’s risk profile by entering the lower-risk gold loan segment.
- March 2025: Rating agency ICRA confirmed its rating for the pass-through certificates backed by personal loan receivables by InCred. The company's liquidity position remains strong to meet the expected payouts.
- December 2024: InCred Finance appointed Gaurav Maheshwari as its new Chief Financial Officer.
- December 2023: InCred successfully raised ₹500 crore from new and existing investors, bringing its total capital raised since inception to approximately ₹1,500 crore.
- November 2024: The company announced plans for a potential IPO in the near future, aiming to expand its reach and enhance its market presence.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2016 |
| Headquarters | Mumbai, India |
| Founders | Bhupinder Singh |
| Revenue | ₹2.71 billion (as of March 2024) |
| Profits | ₹372.17 crore net profit (FY2025) |
| Key Investors | FMO, KKR, Paragon Partners, Varanium Capital |
| Industry | Financial Services |
| Number of Employees | 2004 (as of January 2025) |
| Valuation | $1.04 billion (as of December 2023) |
Early History
InCred Finance was established in 2016 by Bhupinder Singh, an experienced banker with a strong background in financial services. With an initial seed capital of around ₹500 crore, the company set out to revolutionize lending in India by leveraging advanced technology and data analytics. InCred focused on delivering consumer loans, particularly personal and education loans, using a digital-first approach. The company quickly gained traction, attracting a robust investor base and raising capital at periodic intervals to fuel its expansion.
Company Profile and Achievements
InCred Finance operates a diversified business model, providing a wide array of financial products tailored to individual and business needs. Key achievements of InCred include:
- Acquisition and Expansion: InCred completed the acquisition of KKR India Financial Services Ltd in 2022, significantly expanding its asset base and capabilities.
- Product Diversification: The company offers a diversified loan portfolio that includes personal, education, MSME loans, and anchor-backed business loans. The acquisition of a gold loan portfolio in 2025 further diversified its offerings.
- Strategic Investments: InCred has consistently attracted investment from reputable funds and investors, raising a total of $318 million across multiple funding rounds.
- Technology and Innovation: InCred has embraced digital transformation, using technology to streamline processes and improve customer experience, leading to high net interest margins and efficient credit assessment processes.
- Corporate Social Responsibility: The company actively participates in CSR initiatives, focusing on education and community development projects.
Current Operations and Market Position
InCred Finance is recognized as a significant player in the Indian NBFC sector, serving a diverse customer base with a focus on retail and MSME lending. As of early 2025, the company has been actively expanding its loan book, with a significant emphasis on retail loans, which make up approximately 87% of its total AUM. The company's strong capital position and capability to raise funds contribute to its competitive advantage in the market. By entering the gold loan segment, InCred aims to strengthen its market position and achieve further business diversification.
Conclusion
InCred Finance has established itself as a formidable entity in India's financial services landscape, notably through strategic acquisitions, product innovation, and technological investment. As the company prepares for a public offering in the foreseeable future, it continues to strengthen its market position by expanding its product offerings and solidifying its capital base. With a focus on expanding its retail lending operations and new investments in lower-risk segments like gold loans, InCred is poised for sustained growth and enhanced market influence.