Credit Access Redefiner The Mumbai-based group comprises three distinct businesses: InCred Capital, an integrated institutional, wealth, and asset management platform; InCred Money, a digital investment platform catering to both B2C and B2B2C segments; and InCred Finance, its flagship lending arm.

When Bhupinder Singh founded InCred Group in 2016, he faced the challenge of a fragmented financial services market, where accessibility, efficiency, and customer experience were often lacking. As a seasoned professional with a successful career at Deutsche Bank, Singh was determined to fill this gap with a solution that was tech-driven, customer-centric, and scalable.

"The vision was clear: leverage cutting-edge technology to not only disrupt but also democratise financial services for underserved communities," shared Bhupinder Singh, Founder and Group CEO of InCred.

InCred's journey began with a focus on lending, but under Singh's leadership, it swiftly evolved into a diversified financial services powerhouse, with multiple arms that address a wide range of customer needs.

The Mumbai-based group comprises three distinct businesses: InCred Capital, an integrated institutional, wealth, and asset management platform; InCred Money, a digital investment platform catering to both B2C and B2B2C segments; and InCred Finance, its flagship lending arm. These platforms thrive on the backbone of a 150-strong in-house technology team that drives innovation and operational excellence.

"Technology plays a pivotal role in InCred's operations. Machine learning models optimise customer conversion rates, risk management, and loan pricing, while Account Aggregator technology ensures seamless, secure data collection, eliminating manual uploads. This focus on tech-driven efficiency has elevated the customer experience while maintaining stringent data privacy standards," Singh stated.

These models have allowed InCred to make faster, more accurate lending decisions, ultimately helping millions of underserved households gain access to credit.

While disruptive innovation is often seen as the hallmark of success in the tech world, Singh's approach is more focused on continuous, incremental improvements. "InCred's products are benchmarked against competitors, with real-time performance insights fueling constant updates. The result is a financial services group that balances growth with social impact, always mindful of its responsibility to stakeholders and customers," he added.

This strategy has borne fruit. InCred Finance claims to have now empowered over 5 million households with credit and is valued as a unicorn. "InCred Money has brought wealth creation to the masses, offering affordable investment products, while InCred Capital has earned the trust of corporate giants like Godrej and OYO. The success of these ventures is grounded in InCred's robust risk management practices, which allow us to achieve both growth and profitability," Singh stated.

According to Singh, in FY 2024, InCred Finance achieved an impressive INR 420+ crore in profit before tax (PBT) with a pre-tax return on assets (RoA) of 5.7%. Meanwhile, InCred Capital experienced explosive growth, with PBT climbing from INR 10 crore in FY 2023 to an annualised INR 200+ crore in H1 FY 2025. The youngest arm, InCred Money, boasts a growing base of nearly 1 lakh transacting users.

Looking ahead, InCred's ambitions are bold. Singh envisions achieving INR 5,000+ crore PBT in the next five years, with plans for InCred Finance's IPO and aggressive expansion across InCred Capital and InCred Money. "We're just getting started," said Bhupi. "With a talented team, robust strategy, and relentless focus, we are poised to set new benchmarks in financial services, innovation, and social impact."

Facts:

• Inception Year: 2016
• Employees: 3,500+
• FY 2022-23 Revenue:
  • InCred Group Total: INR 1,197 Cr
  • InCred Finance: INR 877 Cr
  • InCred Capital: INR 320 Cr
• Total Funding (FY24):
  • Equity: INR 3,000 Cr
  • Debt: INR 4,300+ Cr in FY24 and in H1'25, already raised ~ INR 3,400 Cr
• Industries Served:
  • InCred Finance Partners: Amazon, Swiggy, Flipkart, Shiprocket, Ola, Paytm, and more
  • InCred Capital Partners: Godrej Group, Raymond Group, Livpure, Indiabulls Group, Oyo, and others