InCred, backed by Anshu Jain, disburses Rs 100 cr loans to SME, housing segments
InCred has disbursed loans across a broad range of ticket sizes from Rs. 50,000 to Rs.10 crores.
InCred, a non-banking finance company which began operations in February 2017, has disbursed Rs 100 crore loans to about 1000 customers in less than 100 days. “Bulk of the disbursements have happened in the housing and small business segment which is very encouraging since InCred was set up to promote financial inclusion for India’s underserved segment. By leveraging technology, we were able to fulfil our customers’ requirements very quickly in a hassle-free manner,” said Bhupinder Singh, Founder and CEO, InCred.
The startup has been backed by a slew of industry veterans including Anshu Jain, former Co-CEO, Deutsche Bank, Ranjan Pai - managing director and CEO, Manipal Education and Medical Group, and Gaurav Dalmia, founder and chairman of Landmark Holdings (Dalmia Group) have backed the non-banking finance company with strategic investments.
InCred has disbursed loans across a broad range of ticket sizes from Rs. 50,000 to Rs.10 crores. “While we are growing, and expanding our loan book across various sectors and product categories, we are very focused on product design and innovation to deliver products catering to the specific needs of our customers. We are also committed to delivering a superior experience to our customers across their loan journeys with us” Singh added.
Customers can access InCred products on multiple channels through its growing network of branches besides very convenient web and mobile platforms. InCred has also established strategic partnerships with vendors that are able to enhance customer reach.
InCred offers loans in 4 categories: -- SME loans, where it helps budding entrepreneurs and small businesses by providing them loans for their working capital and growth capital needs besides, bespoke financing solutions; Consumer loans -- targets to provide unsecured loans to consumers; home loans – in the affordable housing segment (loans of Rs 10-30 lakhs); and Education loans -- for students seeking education beyond K-12, both in India as well as overseas.
The solutions will provide a new avenue for financial firms to solve many of their process-based challenges.