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Incred’s revenue surged 77.46 per cent to Rs 866 crore during FY23 from Rs 488 crore in FY22, according to its financials with the Registrar of Companies (RoC).
The finance cost (interest expenses) was up 62.6 per cent to Rs 356 crore in FY23 from Rs 219 crore in FY22, as the company scaled its operations, according to an Entrackr report.
Incred has likely built a loan book of Rs 7,500 crore within the last six years.
Late last month, the fintech lender became India’s second unicorn of 2023 (the other being quick commerce startup
Ravi
InCred Special Opportunities Fund VCC, Singapore-registered entity of InCred, Varanium Capital Advisors and NABS
With this funding, InCred is now valued at more than $1.03 billion.
The firm last raised $68 million in a debt funding round from public sector banks and public financial institutions.
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