Fin-tech startup InCred raises $ 75 million
In one of the biggest fin-tech deals in India for 2016, Mumbai-based InCred raised $ 75 billion in a funding round led by former Deutsche Bank co-CEO Anshu Jain and private equity firms. Possessing a capital base of around Rs. 500 to 600 Crore, InCred will use the additional funds to focus on business with SME financing and three retail-focused ventures-unsecured consumer finance, mortgages and educational loans. Founded in 2016, InCred offers technology-driven financial services with the aim to make credit decisions, loan disbursal, and collections, smoother in the finance sector.