Zerodha's Kamath Brothers Invest INR 250 Cr in InCred Ahead of IPO
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In a significant move ahead of InCred's upcoming public listing, Zerodha co-founders Nithin and Nikhil Kamath have invested INR 250 crore to acquire a minority stake in InCred Holdings, the parent company of InCred Financial Services (IFSL).
The investment comes just months before InCred's planned Initial Public Offering (IPO), which is expected to raise INR 4,000–INR 5,000 crore and value the firm at USD 1.8–USD 2.5 billion.
Nikhil Kamath said, "India's credit ecosystem is changing fast—more formal, more digital, and more accessible. InCred Group seems to get that. They've built a strong team, a technology-first approach, and a clear view of where the market is headed. Backing them is a bet on that broader shift—and the belief that responsible lending can scale without losing sight of fundamentals."
Founded in 2016 by Bhupinder Singh, InCred has grown into a diversified lending platform focused on consumer, SME, and education financing. It uses deep data science, proprietary risk analytics, and digital-first operations to serve retail and MSME borrowers across the country.
InCred operates through three entities—InCred Finance, InCred Capital, and InCred Money. InCred Finance has raised over USD 370 million to date, with USD 60 million coming from its Series D round, which made it a unicorn. InCred Capital manages wealth, asset management, and capital market services and recently raised USD 50 million from several family offices.
The Kamath brothers' strategic backing adds momentum to InCred's IPO ambitions and reinforces investor confidence in India's rapidly evolving digital lending landscape.
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