InCred raises $5.9 Mn in its third debt round in three months
Summary
After raising over $200 million, including an $85 million Series A round in April from the likes of former co-CEO of Deutsche Bank, asset manager Moore Capital and Paragon Partners, InCred has raised three back to back debt funding rounds in the last three months. Centrum Management, which has invested Rs 19.5 crore, was the top contributor in the fresh debt funding round which saw participation from Ajay Bahl, Devendra Motilal Kothari, MC Davar Holdings, Sudhir Nambiar, Santosh Singh, Bhavna Bahl and MC Davar Holdings, among others. While such successful fundraises for an NBFC reflects the capability to run a business smoothly, picking up back-to-back debt funds from over 90 investors raises a question on InCred’s early backers. InCred is counted amongst leading NBFCs such as IndiaLends, Capitalfloat, Lendingkart and Aye Finance, which have raised decent capital in the form of equity and debt. For the past six months, the firm has been boosting its balance sheet lending and investing in tech to strengthen its analytics and risk management capabilities.