Company Name : InCred Financial Services
Monday, October 7, 2019 12:59PM IST (7:29AM GMT)
Mumbai, Maharashtra, India
The issue was fully subscribed despite the tough market backdrop, and it highlights the appetite in the investor community for Consumer and MSME focused small ticket lending models. The innovative fundraising gives investors access to a higher yielding asset class, and it provides InCred an alternative source of funding to the traditional Bank and Capital Markets channels.
InCred CFO Vivek Bansal said, “We are very pleased with the issuance of our debut MLD and its over-subscription in this market indicates the confidence that investors have in our diversified business model, our risk management philosophy and practices, our technology infrastructure, and the quality of our talent pool. We were pleased with the arranger services provided by Sanctum and will look to issue additional tranches under our MLD Programme in future.”
Mumbai-headquartered tech-enabled new age NBFC InCred provides Personal loans, Education Loans, and SME loans that are tailor-made to the unique needs of its customers. InCred, promoted by former Deutsche Bank executive Bhupinder Singh, has previously closed 2 successful rounds of equity raising and has a diversified pool of debt providers across the Indian banking and capital markets ecosystem.
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