InCred Capital has acquired the Dubai wealth business of L&T Capital. This follows InCred Capital’s recent acquisition of Reliance Wealth and the launch of a $100mm Credit Fund that was recently reported.
InCred was founded by Bhupinder Singh in 2016 as a tech-enabled new-age financial institution.
It commenced Consumer Lending in Mar 2016 and Small Business Lending in Mar 2017 and has an asset book of over Rs 2,000 crores.
Bhupinder Singh, CEO & Founder Incred Capital, said, “We see a huge opportunity in the rapidly growing market for wealth management in India. We aim to provide a truly global experience to Indians around the world and The L&T Dubai acquisition provides us with an excellent platform”It is now making a foray into fee businesses - Asset Management, Wealth Management, and Investment Banking - through InCred Capital. The acquisition of L&T Wealth’s Dubai franchise is the first step towards establishing a “Global Indian platform” for InCred Capital’s businesses.