Have a look at the biography and net worth of Bhupinder Singh, the CEO of InCred
In a remarkable feat for the Indian fintech landscape, InCred Finance has emerged as India’s second unicorn of 2023, following in the footsteps of online grocery giant Zepto.
At the helm of the financial success of InCred Finance is CEO Bhupinder Singh whose strategic vision and leadership have propelled the company into the coveted unicorn club.
In a recent statement, Bhupinder Singh expressed gratitude for the noteworthy achievement of InCred Finance by stating, “This funding marks a significant milestone in our journey and takes us into the ranks of Unicorns. We are deeply grateful for the overwhelming support our investors have shown.”
Who is Bhupinder Singh Founder and Owner of InCred Finance, biography, age, education, career and net worth
The funding, totaling Rs 500 crores in the Series D round, brings InCred Finance’s valuation to approximately Rs 8,800 crores or $1.05 billion.
The Series D round was led by key investors, with Ranjan Pai of MEMG taking the lead with a substantial investment of USD 9 million. Ravi Pillai, Chairman at RP Group of Companies, and Ram Nayak, Global Co-Head of the Investment Bank and Head of Fixed Income and Currencies at Deutsche Bank, also played pivotal roles with investments of USD 5.4 million and USD 1.2 million, respectively.
The funding round witnessed diverse participation from large ultra-high-net-worth individuals and institutional investors, including Varanium Capital Advisors and Sattva Group.
Mr. Bhupinder Singh, Wholetime Director & CEO is the Founder of the Incred Group and prior to the InCred, he co-headed the Investment Banking and Securities division of Deutsche Bank for the Asia Pacific region with a USD 3 billion top line. In this role, he managed the Bank’s FixedIncome, Equities and Investment Banking division.
He was also the head of the Corporate Finance division for Deutsche Bank in the Asia Pacific region managing the bank’s corporate coverage, investment banking, capital markets advisory and treasury solutions businesses.
Founded in 2016 by Bhupinder Singh, InCred Group operates in the BFSI sector through three separate entities – lending vertical InCred Finance, wealth and asset management company InCred Capital, and InCred Money which deals in retail bonds and alternative investments. pic.twitter.com/pD0c4r8OgH
— Tamilpreneur (@tamilpreneur) December 26, 2023
Before his stint with Deutsche Bankhe was part of the investment banking teams of Jardine Fleming and DSP Merrill Lynch in Mumbai and his professional odyssey has spanned across two decades in the financial services sector, with more than 7 years in running and supervising Indian businesses. He has a Post Graduate Diploma in Management (PGDM) from IIM Ahmedabad. The 48 year old has over 20 years of experience.
InCred Finance plans to strategically deploy the raised capital across its core business verticals: Consumer Loans, Student Loans, and MSME Lending. All three verticals have experienced robust growth, and the infusion of equity capital aims to further strengthen InCred’s position in these segments.
The company’s commitment to utilizing the funds for expansion reflects a forward-looking approach by ensuring a robust balance sheet and providing a runway for the next phase of growth.
Bhupinder Singh’s leadership has been instrumental in navigating InCred Finance through the challenging landscape of raising capital amid macro market headwinds. His vision for the company extends beyond achieving unicorn status; it is centered on leveraging the funding to capitalize on emerging opportunities.
Singh envisions the funds playing a crucial role in fortifying InCred Finance’s position in the market and facilitating sustained expansion over the next couple of years.
InCred Finance’s journey to unicorn status not only highlights its resilience and adaptability but also underscores the confidence that investors have in the company’s potential. As the fintech sector continues to evolve in India, InCred Finance, under the leadership of Bhupinder Singh, stands as a beacon of success, signaling a promising future for the company and the broader startup ecosystem.
Bhupinder Singh is the person who started InCred and is currently its CEO. Before this, he worked at Deutsche Bank where he was in charge of the Corporate Finance division. He also co-led the Fixed Income, Equities, and Investment Banking divisions for the Asia Pacific region.
According to his LinkedIn profile, Bhupinder Singh studied at the Indian Institute of Management Ahmedabad.
Bhupinder Singh’s net worth
The managerial remuneration for Bhupinder Singh, the CEO and Founder of InCred, had been set at Rs 4 crore plus car and driver benefit back in 2019 but his net worth isn’t known, InCred is now valued at $1billion.