 "InCred aims to grow lending book to Rs 3,000 crore by March 2019")
InCred, the next generation technology-driven finance company, aims to grow its lending book to Rs 3,000 crore by March 2019.
Moreover, the company plans to achieve Rs 1,500 crore for its lending book by the fiscal-end itself, it said in a release today.
InCred is adequately capitalised having attracted strategic funding from Anshu Jain, Ranjan Pai of the Manipal Group, Gaurav Dalmia of Landmark Holdings, IDFC Private Equity, Alpha Capital and most recently Paragon Partners.
Instead of bricks and mortar branches, InCred is making its products available to customers using internet and mobile app platforms.
Moreover, the company has established strategic partnerships with vendors that are able to provide enhanced customer reach.
"InCred aims to target those sections of the population that are under-penetrated by traditional lenders," Bhupinder Singh, founder and chief executive, InCred said.
InCred offers loans in four categories which include SME, consumer, home and education.