Funding · Financial Services

InCred raises ₹31.4 crore in second debt round

By Startup Enthusiast · 6 November 2019

What they do

InCred is a Mumbai-based NBFC that offers home, education, personal and two-wheeler loans

It raised ₹31.4 crore by issuing 314 non-convertible debentures to 47 allottees in two tranches

The company had raised a ₹15 crore debt round 20 days earlier and a $58 million equity round seven months ago

InCred raised ₹31.4 crore in a second debt round by issuing 314 non-convertible debentures (NCDs) at ₹10,00,000 each.
The NCDs were allotted to 47 allottees in two tranches over 10 days.
Allottees include Vishal Arvind Kapoor, Pushpak Credit & Fiscal, Sanjay Gupta, StarWorld Wide Group, Shri Investments, Srinivasan Seshadrinathan and Kamlesh Ohri.
Twenty days earlier, InCred had raised ₹15 crore debt via 150 NCDs of ₹10,00,000 each.
Seven months ago, the company secured a ~$58 million equity round led by Netherlands Development Finance Company (NDFC).
InCred is a Mumbai-based NBFC (non-banking financial company) that lends to consumers and small businesses.

The debt raise shows InCred is diversifying its funding sources beyond equity.
The company's FY18 revenue jumped 55 times to ₹132.44 crore from ₹2.41 crore the previous year.
InCred turned profitable in FY18 with a net profit of ₹9.38 crore.

InCred offers home, education, personal and two-wheeler loans to consumers and SMEs.
It partners with online and offline platforms to use business data for consumer lending.
FY18 consolidated revenue was ₹132.44 crore, up from ₹2.41 crore in the previous fiscal.
FY18 profit was ₹9.38 crore.
FY18-19 annual financial statements have not yet been filed.