Key Highlights

• Nikhil and Nithin Kamath acquire ₹250 cr minority stake in tech‑driven NBFC InCred ahead of IPO.
• Their investment underscores confidence in InCred's digital, data‑first credit model and upcoming ₹4k‑5k cr IPO. 

Nithin and Nikhil Kamath, co-founders of Zerodha, have acquired a minority stake of Rs 250 crore in InCred Holdings, the parent company of InCred Financial Services (IFSL).

With Incred Finance's planned Rs 4,000-5000 crore IPO, which is anticipated to be worth between $1.8 billion and $2.5 billion, just a few months away, the strategic investment was made.

"India's credit ecosystem is changing fast, more formal, more digital, and more accessible," Nikhil Kamath, the finance minister, said. "InCred Group seems to understand that. They've developed a strong team, a technology-first strategy, and a clear vision of where the market is going. Backing them is a bet on the larger shift—and the belief that responsible lending can scale without losing sight of the fundamentals."

InCred, founded by Bhupinder Singh, is a technology-first non-banking financial company (NBFC) that specializes in consumer, SME, and education lending. The company claims to serve retail and MSME borrowers throughout India using proprietary risk analytics, data science, and digital-first operations.

Also Read: InCred to Acquire Stocko in a Rs 300 Crore Deal

InCred Group comprises three companies: InCred Finance, InCred Capital, and InCred Money.

InCred Finance has raised more than $370 million to date, including $60 million in its Series D round, which also marked its entry into the unicorn club. Meanwhile, InCred Capital, which oversees wealth and asset management, M&A advisory, capital markets, equity research, and broking, raised $50 million in funding led by a number of family offices.