InCred Capital, a fintech startup, has acquired wealthtech startup Orowealth in an all-cash deal for the launch of its retail-focused wealthtech platform InCred Money.
With this acquisition deal, InCred Money gets assets under management (AuM) of Rs 1,100+ cr along with a robust technology platform and an experienced team.
Additionally, as part of the deal, Vijay Kuppa, the co-founder of Orowealth, will lead InCred Money as the chief executive officer (CEO) going forward.
InCred Capital | Fintech
Co-founded by Nitin Agrawal, Vijay Kuppa and Yogesh Powar, Orowealth is a retail-focused digital investment platform that offers a comprehensive platform for users to invest in multiple alternate investment products – Bonds, Fractional Real Estate, Green Investing, P2P loans, Invoice Discounting, etc.
InCred Capital, part of the InCred Group, is an India-focused institutional platform that advises marquee clients on some of the largest and most significant business transactions in India across sectors.
As per InCred Group, it will aim to provide InCred Money with access to its full suite of product capabilities.
The newly launched InCred Money will also develop a B2B2C offering. It will leverage technology to effectively integrate a wide network of Independent Financial Advisors (IFA) across the country, giving them the ability to tap into class-leading products and solutions for the benefit of their end customers.
Speaking about the development, 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.”
Bhupinder Singh added,
“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.”
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