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Financial services company InCred, which began operations in February 2017, has disbursed Rs 100 crore loans to about 1000 customers in less than 100 days, according to a company statement.
Bhupinder Singh, Founder and CEO, InCred, said “Bulk of the disbursements have happened in the housing and small business segment.
“...By leveraging technology, we were able to fulfil our customers’ requirements very quickly in a hassle-free manner.”
InCred has disbursed loans across a broad range of ticket sizes from Rs. 50,000 to Rs.10 crores. It offers loans in four categories -- SME, consumer, home and education.
The company has been set up by Bhupinder Singh, former Co-Head, Investment Banking & Securities, Deutsche Bank APAC. It has received strategic investments from Anshu Jain, former Co-Chief of Deutsche Bank, Manipal Group’s Managing Director and CEO Ranjan R Pai and Gaurav Dalmia, founder and chairman of Landmark Holdings (Dalmia Group) along with IDFC PE, Alpha Capital, and Paragon Partners, said the statement.
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