InCred joined the Unicorn Club on Nov 09, 2023 after raising a $60.1 million Series D funding round led by Ranjan Pai and InCred Capital, reaching a $1 billion valuation. Headquartered in Mumbai, Maharashtra, India, InCred provides financial services specializing in personal, education, and business loans.
The platform leverages technology and data science to offer tailored lending solutions, regulatory compliance support, and consumer education resources. InCred focuses on providing accessible financial products for individuals and businesses.
Keep reading to learn how InCred became a $1.04 billion leader in alternative lending.
What Is InCred and What Does It Do?
Founded in 2016, InCred is an alternative lending platform offering personal, education, and business loans. The platform uses technology and data-driven insights to deliver customized financial products and manage risk effectively.
InCred also provides compliance support and financial education tools, helping customers make informed decisions while streamlining loan processes for banks and institutions.
How Much Funding Has InCred Raised?
1. Series D Round
- Amount Raised: $60.1 million
- Date: Nov 09, 2023
- Lead Investors: Ranjan Pai, InCred Capital
- Purpose: Expand lending products, enhance technology, and grow nationwide adoption
2. Seed Round
- Amount Raised: ~$20 million
- Date: 2016
- Key Investors: Asas Capital, Paragon Partners
- Purpose: Launch platform and initial lending products
3. Series A Round
- Amount Raised: ~$45 million
- Date: 2017
- Key Investors: Asas Capital, Paragon Partners
- Purpose: Scale lending operations and optimize technology platform
4. Series B Round
- Amount Raised: ~$85 million
- Date: 2018
- Key Investors: Asas Capital, Paragon Partners
- Purpose: Expand product offerings and enhance data-driven lending capabilities
5. Series C Round
- Amount Raised: ~$109.8 million
- Date: 2019–2022
- Key Investors: Asas Capital, Paragon Partners
- Purpose: Improve underwriting, compliance, and customer onboarding technology
6. Conventional Debt Round
- Amount Raised: $46.8 million
- Date: Jul 04, 2025
- Key Investors: Internal and external lenders
- Purpose: Strengthen liquidity and support loan disbursements
Total Funding Raised: $320 million Latest Funding Date: Jul 04, 2025 Latest Known Valuation: $1.04 billion Employee Count: 2,161
Key Investors
- Asas Capital
- Details: Private equity firm investing in high-growth financial services and fintech startups
- Focus Areas: Alternative lending, fintech, and technology-driven financial platforms
- Paragon Partners
- Details: Investment firm supporting growth-stage financial services companies
- Focus Areas: Lending, consumer finance, and data-driven financial solutions
Where Is InCred’s Headquarters?
InCred is headquartered in Mumbai, Maharashtra, India, serving as the hub for lending operations, technology, and financial product development.
What’s Next for InCred?
InCred plans to expand its lending portfolio, improve data-driven underwriting, enhance digital solutions, and grow adoption of personal, education, and business loan offerings across India.
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