Exclusive: InCred Money secures Rs 250 Cr from marquee investors at Rs 1,650 Cr valuation

InCred Money, the wealth and asset management arm of InCred Group, has raised Rs 250 crore (about $30 million) from a clutch of investors, including Manipal Group chairman Ranjan Pai, former Deutsche Bank executive Ram Nayak, Mankind Family Office, MMG Family Office, Ravi Pillai Family Office, and Raj Vattikutti Foundation, among others.

According to Entrackr sources, the fresh capital values InCred Money at around Rs 1,650 crore (roughly $200 million).

Founded by Bhupinder Singh, InCred Group runs three key businesses: InCred Finance (a retail and MSME-focused NBFC), InCred Capital (wealth and asset management, M&A advisory, capital markets, and broking), and InCred Money. The group positions itself as a tech-driven financial services firm leveraging data science and proprietary risk models.

InCred Money offers investment options across unlisted shares, fixed deposits, gold, silver, and more. According to the company’s website, the platform is used by over 1.5 lakh investors.

Incred Money did not comment on the story.

The fresh fundraising comes as InCred Holdings gears up for a public market debut. As reported by Entrackr yesterday, the parent is preparing for an IPO with a total issue size pegged at $460–560 million, including a Rs 1,500 crore fresh issue and a Rs 300 crore pre-IPO placement.

On the financial front, InCred Finance, the group’s lending arm, recorded a 47% year-on-year jump in revenue to Rs 1,872 crore in FY25, while profits rose 18% to Rs 374 crore. InCred Capital had earlier secured $50 million from family offices to expand its wealth and capital markets operations.

With this funding, InCred Money becomes part of the growing wave of wealth management startups getting strong investor interest, as more Indians turn to digital platforms to manage their money.