InCred Capital, the Institutional, Wealth Management and Asset Management arm of the InCred Group has completed a top up equity round to kick-start its Loans against Shares (LAS) business within the Wealth Management unit.
The round was placed with Family Offices in India, London, Singapore and Dubai.
InCred Capital commenced its Wealth Management business just over a year ago targeting the HNI and UHNI segments in India and has already achieved an AUM of over 5,000 crores. The company has an established Investment Banking and Debt Capital Markets presence and recently acquired CIMB’s Indian Equities business.
It also announced the hire of Mrinal Singh, Deputy CIO- Equity of ICICI Prudential AMC as the CEO / CIO of its Asset Management business.
InCred Group was founded in 2016 by Bhupinder Singh, formerly Head of Deutsche Bank’s Asia Pacific Investment Banking and Securities division, and is active in the Indian Retail and Small Business Lending market through its NBFC InCred Finance