Zerodha Co-Founders Invest in InCred Holdings

Zerodha co-founders Nithin and Nikhil Kamath have secured a minority stake valued at Rs 250 crore in InCred Holdings, which is the parent company of InCred Financial Services (IFSL).

This strategic investment arrives just months before InCred Finance is set to launch its anticipated Initial Public Offering (IPO), targeting a valuation between $1.8 billion and $2.5 billion, with plans to raise Rs 4,000-5,000 crore.

Nikhil Kamath noted that India’s credit ecosystem is evolving rapidly, becoming more formal, digital, and accessible. He expressed confidence in InCred Group, stating, “They’ve developed a robust team, prioritised technology, and have a clear vision for future market trends. Supporting them represents a commitment to this broader transformation and a belief that responsible lending can prosper while maintaining core principles.”

About InCred Group

InCred, founded by Bhupinder Singh, operates as a technology-driven non-banking financial company (NBFC), concentrating on lending for consumers, small and medium enterprises (SMEs), and educational purposes. The group prides itself on employing unique risk analytics, data science, and digital-first strategies to assist retail and micro, small, and medium enterprises (MSMEs) throughout India.

Structure of InCred Group

The InCred Group consists of three main entities: InCred Finance, InCred Capital, and InCred Money. To date, InCred Finance has successfully raised over $370 million, which includes $60 million from its Series D funding round, marking its entry into the unicorn category. Meanwhile, InCred Capital, which manages wealth and asset management services, mergers and acquisitions (M&A) advisory, capital markets, equity research, and broking, has obtained $50 million in finance, led by a consortium of family offices.