InCred Capital Ropes In Vikram Agarwal As COO

SUMMARY

At InCred Capital, Agarwal will be at the helm of critical functions such as technology, operations, client servicing, compliance and risk management, the company said in a statement

Agarwal, in his last role, served as the COO, chief revenue officer and a board member at wealth management company Julius Baer India

This appointment comes at a time when InCred Capital's alternative asset management arm is closing the first round of its maiden private equity fund at over INR 330 Cr

InCred Capital, the wealth and asset management arm of InCred Financial Services Ltd, has roped in Vikram Agarwal as its chief operating officer (COO).

At InCred Capital, Agarwal will be at the helm of critical functions such as technology, operations, client servicing, compliance and risk management, the company said in a statement.

With over 25 years of experience in wealth management, broking, asset management, consulting and technology, Agarwal, in his last role, served as the COO, chief revenue officer and a board member at wealth management company Julius Baer India.

Prior to his stint at Julius Baer, where he played a key role in the acquisition of its wealth management business from Bank of America Merrill Lynch in India, Agarwal also held leadership positions at Bank of America Merrill Lynch, Accenture and other technology consulting firms.

“Agarwal’s strategic vision and operational expertise will be instrumental as we continue to grow and scale our businesses,” said Bhupinder Singh, founder and group CEO, InCred.

This appointment comes at a time when InCred Capital’s alternative asset management arm is closing the first round of its maiden private equity fund at over INR 330 Cr. It launched this maiden Category II alternative investment fund (AIF) in the private equity space in February with a target corpus worth INR 500 Cr.

Last year, InCred Capital acquired wealthtech startup Orowealth in an all-cash deal.

Founded in 2016 by Bhupinder Singh, InCred Group operates in the BFSI sector, it comprises three main businesses viz. InCred Finance (NBFC), InCred Capital (Wholesale Banking) and InCred Money (Online Distribution Platform).

The Mumbai-based company, InCred has raised over $339.9 Mn in funding to date.

It is pertinent to note that InCred Capital’s parent fintech entity Incred became a unicorn after securing $60 Mn in a Series D funding round led by Manipal Education and Medical Group’s Ranjan Pai.

Its parent entity reported a quadrupled surge in net profit to INR 120.9 Cr in FY24 compared to INR 30 Cr in the previous fiscal year. Its operating revenue for the same period reached INR 864 Cr, up 77% from INR 488 Cr in FY22.

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