InCred to Join the Unicorn Club with Series D Funding

InCred Holdings Limited, parent company of fintech startup InCred Financial Services Ltd, has secured commitments totaling INR 500 Cr ($60 Mn) in its Series D funding round. This substantial injection of capital will propel InCred into the exclusive unicorn club of startups valued at over $1 billion.

Who’s Investing?

A diverse group of investors have expressed interest in the funding round, featuring global private equity funds, corporate treasuries, family offices, and Ultra High Net Worth Individuals (UHNIs).

Second Indian Unicorn of 2023

Upon successful completion of this funding round, InCred will become the second Indian startup to achieve unicorn status in 2023, following in the footsteps of Zepto.

Strategic Capital Deployment

The fresh influx of capital will be strategically utilized across InCred’s key business areas. These include consumer loans, student loans, and Micro, Small and Medium Enterprises (MSME) lending. This strategic allocation of resources underscores InCred’s commitment to expanding and enhancing its service portfolio.

InCred’s impending induction into the unicorn club highlights the growing potential of fintech startups. With a robust strategy and the backing of a diverse group of investors, InCred is positioned to further enhance its presence in the financial services sector.