Ex-Deutsche Bank Head Founded InCred Raises $85 Mn from FMO of the Netherlands

Ex-Deutsche Bank Head Founded InCred Raises $85 Mn from FMO of the Netherlands

  • Ex-Deutsche Bank Head Founded InCred Raises $85 Mn from FMO of the Netherlands
  • Mumbai-based InCred Finance, a tech-enabled non-banking financial company (NBFC), has raised Rs 600 crore (~ US$85.68 million) in a series A funding round led by FMO, a Dutch development bank based out of The Hague, Netherlands.
  • InCred, which competes with Neogrowth, Capital Float, and Lendingkart, has raised a total of about $175 Mn in funding over three rounds from investors including Anshu Jain (former Co-CEO, Deutsch Bank), Dr Ranjan Pai (MD and CEO, Manipal Group), Gaurav Dalmia (Chairman, Dalmia Group Holdings), and Alpha Capital among others.
  • In January, an another Mumbai-based fintech startup, LoanTap, an online platform that offers flexible loan products to salaried professionals, had raised over $8 million in a funding round led by 3one4 Capital.


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