InCred Capital Acquires Orowealth and Launches Wealthtech Platform InCred Money
- ByStartupStory | January 2, 2023
With the introduction of “InCred Money,” InCred Capital intends to penetrate the retail wealth-tech market. InCred Money has begun operations after the business acquired Orowealth in an all-cash purchase, the company stated on Monday.
Through the acquisition, InCred Money will have assets under management (AuM) of more than 1,100 cr along with a strong technological foundation and a knowledgeable team. InCred Money’s CEO going forward will be Vijay Kuppa, a co-founder of Orowealth, the company announced.
The company added, “This will be InCred Capital’s second pillar in the fast-growing Indian wealth market, following its previous success in the Ultra / High Net Worth segment under the InCred Wealth brand.”
InCred Money will have access to the whole range of product possibilities, according to the InCred Group. According to the company, InCred Money will also create a B2B2C offering by utilizing technology to successfully integrate a large network of Independent Financial Advisors (IFA) across the nation, enabling them to access market-leading products and solutions for the advantage of their end customers.
Orowealth is a retail-focused digital investment platform that offers access to specialized, low-cost investment choices in addition to more conventional investment options like mutual funds and term deposits.
InCred Group’s founder and group CEO, Bhupinder Singh, stated, ““In the next decade, the democratization of investment opportunities covering the Mass Affluent and Retail segments will be driven by digital platforms that unlock access to non-traditional assets for investors as well as their advisors. This will help to create a new market worth tens of billions in AUM. With the launch of the InCred Money platform, we are committed to offering best-in-class products to these rapidly evolving customer segments in keeping with our vision to meet the financial needs of every Indian family.”
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