InCred Closes Series A Round With Nearly $86 Mn In Funding

Mumbai-based digital lending startup InCred has closed its Series A round at $85.89 Mn (INR 600 Cr). The funding round was led by Dutch development finance institution FMO with participation from US-based asset manager Moore Capital, India/Latin America-focused PE fund Elevar, and Alpha Capital.The funds will help the company boost its balance sheet lending. It will also help InCred in making further investments in technology initiatives to drive analytics and risk management capabilities.Bhupinder Singh founded InCred in 2016 to offer a simplified lending platform. The startup offers various types of loans, including personal, home, education, SME, and two-wheeler loans.