InCred Closes $60 Mn Series D Round, Becomes Second Unicorn Of 2023

InCred Closes $60 Mn Series D Round, Becomes Second Unicorn Of 2023

SUMMARY

While Ranjan Pai invested $9 Mn, RP Group’s Ravi Pillai and Deutsche Bank senior executive Ram Nayak pumped in $5.4 Mn and $1.2 Mn, respectively

Incred was valued at $1.04 Bn, making it only the second Indian startup to enter the coveted unicorn club in 2023, after Zepto

The capital will be deployed to shore up the startup’s core business verticals, strengthen its balance sheet, and expand footprint

Fintech startup InCred on Monday (December 25) said its lending arm turned unicorn after raising a $60 Mn (INR 500 Cr) Series D funding round led by Manipal Education and Medical Group’s Ranjan Pai. 

While Pai invested $9 Mn in InCred Finance, RP Group’s Ravi Pillai and Deutsche Bank senior executive Ram Nayak pumped in $5.4 Mn and $1.2 Mn respectively. 

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