InCred Capital acquires alternate asset advisory firm Orowealth

• Financial services firm InCred Capital announced the acquisition of Orowealth, an alternate asset advisory firm.
• With this acquisition, InCred will enter the wealth-tech segment with the launch of InCred Money.
• The InCred Group has over ₹15,000 crore assets under management (AUM), and its businesses include an NBFC and an institutional wealth and asset management platform.

Financial services firm InCred Capital announced the acquisition of Orowealth, an alternate asset advisory firm, on Monday, in an all-cash deal. The deal value has not been revealed.

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

InCred has two other businesses – InCred Finance, a new-age non-banking finance corporation (NBFC) focused on lending, and InCred Capital, an institutional, wealth and asset management platform.

“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,” said Bhupinder Singh, founder and group CEO of InCred Group.

The acquisition of Orowealth adds over ₹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 over 100 private bankers and caters to the high networth and ultra-high networth segments. Orowealth’s acquisition 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 best-in-class products to these rapidly evolving customer segments in keeping with our vision to meet the financial needs of every Indian family,” Singh added.

InCred Money will be targeted at customers, and also serve as a platform for other businesses which want to serve customers. As far as the platform services are concerned, InCred Money plans to integrate a network of Independent Financial Advisors (IFA) across the country.

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

Orowealth offered users options to invest in bonds, mutual funds, peer-to-peer loans, invoice discounting, fractional real estate and more.

SEE ALSO:

December auto sales could skid sequentially on production constraints, purchase deferrals due to ‘inauspicious’ period

Gautam Adani: Man of the year

After a round of musical chairs, Musk, Gates and Adani are among 2022’s top 5 billionaires