Fintech firm InCred has turned unicorn after raising USD 60 million in a funding round from new and existing investors.
Following the fresh capital infusion, InCred has been valued at USD 1.04 billion and has become the second company to gain unicorn status this year, the company said in a statement.
The Series D round was led by Ranjan Pai of MEMG, who invested USD 9 million followed by Ravi Pillai, Chairman at RP Group of Companies, and Ram Nayak, Global Co-Head of the Investment Bank and Head of Fixed Income & Currencies at Deutsche Bank, who invested USD 5.4 million and USD 1.2 million, respectively.
The fundraise also saw participation from several large ultra-high-net worth individuals and Family Offices, as well as institutional investors like Varanium Capital Advisors and Sattva Group, it said.
“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 …
