InCred launches operations to lend to the mass segment
Offers Consumer, Education, Housing and SME loans
Minimum documentation, speedy online processing key features
Mumbai, 5th April, 2017: InCred the new age financial services company, has gone live with its transactional platform, www.InCred.com.The products – Consumer Loans, Education Loans, Housing Loans and SME Lending – are available to customers through InCred’s mobile and internet platforms, with real time approvals using e-docs, e-signatures and Aadhaar e-KYC service, making the loan process simple, fast and efficient.
Bhupinder Singh, the Founder & CEO of InCred is the former Head of Investment Banking, Deutsche Bank (Asia-Pacific). InCred’s advisory board is chaired by Anshu Jain (former Co-CEO of Deutsche Bank) and includes MD Mallya (former Chairman and Managing Director of Bank of Baroda).
“Given the Government’s thrust on Digital India, we at InCred believe that India will be at the forefront in adopting technology for its financial needs. InCred has significant management bandwidth to successfully execute its innovative strategy. We have created a technology framework to give our customers a seamless transactional experience. InCred aims to target those sections of the population that are under-penetrated by traditional lenders” said Bhupinder Singh, Founder & CEO, InCred.
InCred is adequately capitalised having attracted strategic funding from Anshu Jain, Ranjan Pai of the Manipal Group, Gaurav Dalmia of Landmark Holdings, IDFC Private Equity, Alpha Capital and most recently Paragon Partners. InCred aims to grow its lending book to Rs1,500 crores by March 2018, and Rs3,000 crores by March 2019.
InCred offers loans in 4 categories:
SME Loans: InCred aims to help budding entrepreneurs and small businesses in realizing their growth potential by providing credit for working capital, growth capital, and bespoke financing solutions.
Consumer Loans: InCred targets to provide fairly priced and easy-to-process unsecured loans to its customers. InCred’s consumer loans will be the perfect solution to financing many of life’s needs such as, medical procedures, weddings, honeymoons, holidays, home renovation, auto repair, debt re-financing etc.
Home Loans: InCred believes that every Indian has the right to own his or her home. InCred focuses on the affordable housing segment (loans of Rs10-30 lakhs) to enable the average, hard working Indian family to buy their home.
Education Loans: Financing is often the biggest hurdle to a student’s aspiration of pursuing higher education. InCred’s education loans are designed to bridge the gap between personal potential and financial feasibility for students seeking education beyond K-12, both in India as well as overseas.
For more on InCred, please visit – www.incredfinance.com