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InCred, a financial services platform that provides consumer and Micro, Small & Medium Enterprises (MSME) loans, has raised Rs 500 crore in debt funding from various public sector banks and public financial institutions.
This round of debt financing will boost InCred’s lending expansion across select segments in the consumer, education and MSME markets.
“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,” Vivek Bansal, Group CFO of InCred, said.
InCred had earlier raised Rs 600 crore equity funding in a Series A round, led by Dutch development finance institution FMO. That round also saw participation from US-based asset manager Moore Capital, India/Latin America-focused PE fund Elevar, and Alpha Capital (an early-stage investor of InCred).
InCred has an equity base of over Rs 1,000 crore with a marquee investor roster including the Dutch development bank FMO, Moore Capital from the US, Investcorp Bahrain and Oaks Capital, among others.
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