HomeStartupInCred turns unicorn after raising $60 Mn

InCred turns unicorn after raising $60 Mn

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Consumer and SME focused lender InCred secures $58 Mn led by NDFC

  1. InCred, a fintech firm, attained unicorn status after securing $60 million in a Series D funding round.
  2. The funding, led by InCred Wealth, totaled $60 million from various investors, including MEMG Family Office, Ravi Pillai, and Ram Nayak, among others.
  3. This funding round elevated InCred’s valuation to $1.03 billion, marking substantial growth from its previous funding.
  4. Financially, InCred experienced notable growth, with a 77.4% increase in operating scale and a 3.5X surge in profits during FY23.
  5. In addition to its financial gains, InCred has planned expansions, including entry into the insurance sector, as reported recently, expanding its reach beyond fintech services.
SourceEntrackr

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