MUMBAI: Former Deutsche Bank senior executive Bhupinder Singh’s NBFC InCred on Monday said that it has raised Rs600 crore in a funding round led by Dutch development finance institution FMO, the lender said in a statement. The round also saw participation from US-based asset manager Moore Capital, India and Latin America-focused PE fund Elevar, and Alpha Capital, an existing investor of InCred. The latest funding round will increase the total equity capital of the company to over Rs1,000 crore, the statement said. Singh added that the key to long term success will be laser-sharp focus on risk management through a combination of analytics and traditional underwriting. This is InCred’s first funding round since 2016 when it raised Rs550 crore from Anshu Jain, former Co-CEO, Deutsche Bank, Dr. Ranjan Pai, managing director and CEO, Manipal Group, Gaurav Dalmia, chairman, Dalmia Group Holdings) and others.

Source: Mint April 29, 2019 12:22 UTC