ndia financial technology company nCred business has not yet launched $75 million financing

According to media reports,

, a financial technology company in India on Tuesday announced a low-key announcement that it has received $75 million financing. This is the largest round of financial technology financing in India this year.

 

InCred this record will be small and medium enterprise loans, education loans, mortgage loans, etc.. Its specific services have not yet been launched, but InCred said on the official website, there will be something incredible, but it is only on the RecruiterBox recruitment of intermediate and senior staff.

over the past few months, InCred has been much attention. A big reason is about Anshuman Jain. Since Anshuman resigned as chief executive officer of Deutsche Bank, everyone is curious about his next move. In May, media reports said he was working with his former colleague Bhupinder Singh to open a company in India.

some of the rumors have been confirmed. Anshuman has been to the record prices of $7 million 500 thousand investment, will also join the board of directors of the company, in addition to some of the biggest names will be added, such as the general manager of Ranjan R. Pai Manipal Group and chief executive officer.

Bhupinder is the head of the company, he invested $22 million. Together with the chairman of the board of Gaurav Dalmia Landmark invested $7 million 500 thousand, in addition to the investors as well as IDFC Bank, Alpha Capital and other financial institutions, Holdings.

InCred also co Prashant Bhonsle, which is responsible for educational loans. Prashant is the former leader of Credila, an education loan company. After leaving Deutsche Bank, Anshuman is an advisor to SoFi. SoFi is known for making loans to students, but also engaged in mortgage loans and other private lending business.

InCred also acquired InstaPaisa, a lending platform that links individuals with institutional investors such as banks, insurance companies and hedge funds. And InstaPaisa CEO Nikhil Sama will join the team.

In addition to the star studded

board, there was another reason for the excitement. InCred is a non banking financial company. In addition to banks, such companies are RBI (India’s central bank, also known as the Reserve Bank of India) only approved the loan company.

now, the Bank of India because of the loan repayment is facing tremendous pressure, between 2013 and 2015, the amount of loans also increased by 60%. >

Leave a Reply

Your email address will not be published. Required fields are marked *