Mumbai based tech-enabled lender InCred Finance has secured $75m in venture funding led by Anshu Jain, former co-CEO of Deutsche Bank. Jain invested Rs 50 crore into the Mumbai-based company and was named chairperson of its advisory board.
InCred Finance was founded by former Deutsche Bank executive, Bhupinder Singh. He was the co-head of investment banking and security of Deutsche Bank and became a member of the investment bank’s global executive committee. He has nearly two decades of financial service experience and more than seven years of running and supervising Indian businesses. The company is described as a technology led financial service that focuses on SME loans, consumer/personal loans, home loans and education loans. Ranjan R Pai, managing director and CEO of Manipal Education and Medical Group, revealed why he decided to invest in InCred Finance: “We have always looked for investment opportunities in this space and we seized it when we met Bhupinder Singh and the high quality team he has put together.”