Comments
Bengaluru, January 2
InCred Capital, an institutional, wealth management and asset management platform, will enter the retail wealth-tech industry with the launch of InCred Money. InCred Money launch comes with the acquisition of Orowealth, a digital-first wealth and investment platform, in an all-cash deal, pending necessary clearances.
The acquisition brings assets under management (AuM) of more than ₹1,100 crore andan experienced team. Vijay Kuppa, co-founder of Orowealth, will lead InCred Money as CEO in the future.
Asset under management
The platform will 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, according to the company.
“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 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,” said Bhupinder Singh, Founder and Group CEO of InCred Group.
The company claims to have recorded an AUM of ₹15,000 crore in the last two years, driven by a team of more than 100 private bankers.
“There is a growing demand for non-traditional investment assets from mass affluent and retail investors due to rising income levels and greater awareness. We are addressing this massive demand by putting together a suite of carefully curated products and solutions. We are confident that InCred Money will play a crucial role in making investments easy, trustworthy, and lucrative for the end investor,” said Vijay Kuppa.
The InCred Group is a financial services firm that comprises two distinct businesses: InCred Finance, which is a new-age lending-focused NBFC; and InCred Capital, which is the institutional, wealth management, and asset management platform of the group.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.