InCred Capital has entered the retail wealthtech industry with the acquisition of Orowealth in an all-cash deal. With this acquisition, the company has launched InCred Money, a retail-focused digital investment platform.
This acquisition brings AUM (assets under management) of Rs 1,100+ crore as well as a strong technology platform and an experienced team to Incred Money. According to a press release, Orowealth co-founder Vijay Kuppa will lead Inked Money as CEO, as per reported by livemint.
“After its previous success in the ultra/high net worth segment under the Incred Wealth brand, this will be Incred Capital’s second foray into the fast-growing Indian wealth market,” the company said.
The InCred Group will aim to provide InCred Money with access to its full suite of product capabilities. InCred Money will also develop a B2B2C offering by leveraging technology to effectively integrate a wide network of Independent Financial Advisors (IFA) across the country, giving them the ability to tap into the class-leading products and solutions for the benefit of their end customers, it said.
Bhupinder Singh, Founder and Group CEO of InCred Group, said “In the next decade, the democratization of investment opportunities covering the Mass Affluent and Retail segments will be driven by digital platforms that unlock access to non-traditional assets for investors as well as their advisors. This will help to create a new market worth tens of billions in AUM. With the launch of the InCred Money platform, we are committed to offering best-in-class products to these rapidly evolving customer segments in keeping with our vision to meet the financial needs of every Indian family.”
About InCred Capital
Incred Capital is a new-age financial services provider focused on bringing cutting-edge solutions to sophisticated individual investors and institutional clients. The company was founded in 2016 by Bhupinder Singh.
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