InCred, the new age financial services company backed by industry doyens, has reached a milestone within months since it began its operations in February this year.
The new age financial services company has disbursed Rs 100 crore loans to about 1000 customers in less than 100 days, the company said in a release on Wednesday.
“Bulk of the disbursements have happened in the housing and small business segment,” said Bhupinder Singh, founder and CEO, InCred, who was a former co-head of Deutsche Bank's corporate banking business in Asia Pacific.
“By leveraging technology, we were able to fulfil our customers’ requirements very quickly in a hassle-free manner” he said in a release.
InCred has disbursed loans across a broad range of ticket size from Rs 50,000 to 10 crore.
Industry veterans including Anshu Jain, former Co-Chief of Deutsche Bank, Manipal Group’s managing director and CEO Ranjan Pai and Gaurav Dalmia, founder and chairman of Landmark Holdings (Dalmia Group) have backed the non-banking finance company with strategic investments.
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