Thursday, September 21, 2023

InCred Capital acquires alternative asset advisory firm Orowealth

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  • Financial service provider InCred Capital announced the acquisition of or wealthan alternative wealth consultancy.
  • With this acquisition InCred will enter the wealth technology segment with the launch of InCred money.
  • The InCred group has over ₹15,000 crore assets under management (AUM), and its operations include an NBFC and an institutional wealth and wealth management platform.

Financial services firm InCred Capital announced Monday the acquisition of Orowealth, an alternative wealth advisory firm, in an all-cash deal. The deal value has not been disclosed.

With this acquisition, InCred enters the wealth technology segment with the launch of InCred Money. It will be led by the co-founder of Orowealth Vijay Kuppa.

InCred has two other companies: InCred Finance, a new-age non-bank finance company (NBFC) focused on lending, and InCred Capital, an institutional, wealth and wealth management platform.

“In the next decade, the democratization of investment opportunities spanning the mass wealth and retail segments will be driven by digital platforms that unlock access to non-traditional assets for both investors and their advisors,” he said. Bhupinder Singhfounder and group CEO of InCred Group.

The acquisition of Orowealth adds more than ₹1,100 crore to the assets under management (AUM) of the InCred Group – which itself has an AUM of ₹15,000 crore (before the acquisition).

The company also said it has a team of more than 100 private bankers and focuses on the high and very high net worth segments. The acquisition of Orowealth now allows it to cater to the retail and mass affluent space.

“With the launch of the InCred Money platform, we are committed to offering the best products to these fast-evolving customer segments, in line with our vision of meeting the financial needs of every Indian family,” added Singh.

InCred Money will be aimed at customers and also serve as a platform for other companies looking to serve customers. In terms of platform services, InCred Money plans to integrate a network of Independent Financial Advisors (IFA) across the country.

“There is growing demand for non-traditional investment assets from large affluent and retail investors due to rising income levels and increased awareness. We are meeting this huge demand by putting together a range of carefully curated products and solutions,” said Vijay Kuppa, co-founder of Orowealth and now the CEO of InCred Money.

Orowealth provided users with options to invest in bonds, mutual funds, peer-to-peer lending, bill discount, fractional real estate, and more.


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