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Amid the ongoing startup gloom comes good news in fintech unicorn <keyword id="19944449" type="General" weightage="20" keywordseo="incred" source="keywords">Incred</keyword> which has posted Rs 109 crore in profit in FY23 as compared to Rs 31 crore in FY22, a more than 3.5 times growth. Incred's revenue surged 77.46 per cent to Rs 866 crore during FY23 from Rs 488 crore in FY22, according to its financials with the Registrar of Companies (RoC). The finance cost (interest expenses) was up 62.6 per cent to Rs 356 crore in FY23 from Rs 219 crore in FY22, as the company scaled its operations, according to an Entrackr report. Incred has likely built a loan book of Rs 7,500 crore within the last six years. Late last month, the fintech lender became India's second unicorn of 2023 (the other being quick commerce startup <keyword id="19939134" type="General" weightage="20" keywordseo="zepto" source="keywords">Zepto</keyword>) after raising $60 million from new and existing investors. <keyword id="20112130" type="General" weightage="20" keywordseo="incred-wealth" source="keywords">InCred Wealth</keyword>, the wealth management subsidiary of InCred, led the funding round with investing $36.76 million, followed by MEMG Family Office at $9 million. Ravi <keyword id="20112129" type="General" weightage="20" keywordseo="pillai" source="keywords">Pillai</keyword>, Chairman at RP Group of Companies, and <keyword id="19960548" type="General" weightage="20" keywordseo="ram-nayak" source="keywords">Ram Nayak</keyword>, Co-Head of Deutsche Bank, invested $5.4 million and $1.2 million, respectively. InCred Special Opportunities Fund VCC, Singapore-registered entity of InCred, Varanium Capital Advisors and NABS <keyword id="20112128" type="General" weightage="20" keywordseo="vriddhii" source="keywords">Vriddhii</keyword> also participated in the round. With this funding, InCred is now valued at more than $1.03 billion. The firm last raised $68 million in a debt funding round from public sector banks and public financial institutions. <keyword id="19901323" type="General" weightage="20" keywordseo="zomato" source="keywords">Zomato</keyword> in 2022 entered into a strategic partnership with fintech lender InCred for "hassle-free" credit facilities. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/mercedes-benz-gls-gets-11-lakh-more-expensive-in-india-after-facelift/slidelist/106637475.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/mercedes-benz-gls-gets-11-lakh-more-expensive-in-india-after-facelift/slidelist/106637475.cms" target="_blank">Mercedes-Benz GLS gets ₹11 lakh more expensive in India after facelift</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-squad-for-afghanistan-show-world-cup-trials-are-on/slidelist/106633092.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-squad-for-afghanistan-show-world-cup-trials-are-on/slidelist/106633092.cms" target="_blank">New and veteran names in India’s T20 squad for Afghanistan show World Cup trials are on</a><a href="https://www.businessinsider.in/business/auto/webstories/top-10-electric-cars-sale-in-india-in-december-2023/slidelist/106627784.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-10-electric-cars-sale-in-india-in-december-2023/slidelist/106627784.cms" target="_blank">Tata Motors dominates the EV car market in December with Tiago leading the charge</a>

Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77%

New Delhi, Credit Card bill payment platform <keyword id="16650447" type="General" weightage="20" keywordseo="cred-ceo" source="Orion">CRED CEO</keyword> <keyword id="192201" type="General" weightage="20" keywordseo="kunal-shah" source="Orion">Kunal Shah</keyword> has revealed his monthly salary, stating that he takes home Rs 15,000 per months and also gave a reason for it. He held an "Ask Me Anything" session on Instagram on Sunday where a user asked: "Your salary at CRED is so low? How do you survive?" Responding to the question, Shah said: "I don't believe I should get a good salary till the company is profitable. My salary at CRED is Rs 15,000 per month, and I can survive as I sold my company FreeCharge in the past." Moreover, a user on Twitter shared a screenshot of the story in which the CEO responded to the question. "There are CEOs who take salaries in crores, then we have Kunal Shah," the user wrote with the screenshot. Shah's response, on the other hand, appears to have divided the internet. While some applauded his decision, others said that it is simply a method to save tax. "Being humble and flexing in the same sentence. His words always poke me to be curious," a user commented. "Bro, it's called tax saving, He definitely spending millions on his lifestyle," another user said. "He's also an angel investor and has invested in over 500 startups. His angel investments will also be giving him income as when he exits from investments," commented another person.

CRED CEO Kunal Shah reveals his salary, takes Rs 15,000 monthly

<div class="KonaFilter image-container display-table float_right"><div><div class="image">NewsCredNewsCred cofounder and CEO Shafqat Islam.</div></div></div>NewsCred, a content marketing software platform that allows brands to plan and measure their content campaigns and license relevant articles from the likes of The Guardian, The Financial Times, and the BBC, has just raised another multi-million dollar funding round, which it says demonstrates that "content marketing" is swiftly moving up the agenda in terms of marketers' priorities.The $42 million Series D growth equity funding brings the total funding in NewsCred to date up to $88.8 million. This round is being led by FTV Capital. Liron Gitig, FTV Capital partner, will also join NewsCred's board of directors.NewsCred - an eight-year-old company that has offices in New York, London, and Dhaka - says in a press release that it will use the investment to grow its UK and European operations.Shafqat Islam, NewCred CEO and cofounder, told Business Insider the size of this round - which is almost bigger than its total funding to date - shows how content marketing has grown beyond a small marketing channel. "Content marketing is becoming marketing," he said.Content marketing is hard to define. It's everything from blog posts, to videos, to licensed articles from news outlets. Some people in the marketing industry argue "content marketing" is simply everything a brand does to communicate with its customers. But others define content marketing as a channel in its own right. Market research company PQ Media predicts <a href="https://www.marketingmag.com.au/news-c/content-marketing-will-300-billion-industry-2019/">content marketing will become a $313 billion industry by 2019.</a>Islam said: "As the market has matured, we used to sell into people who ran content marketing divisions, or were the content editor, or were social media marketers. The last 18 months it has become CMOs who have realized content is a much more strategic and foundational part of what they do. You ask CMOs unaided 'what are your top three priorities?' everyone will put content in the top three."<div class="KonaFilter image-container display-table float_left"><div><div class="image">NewsCredFunding in content marketing companies is on the rise, according to NewsCred's research.</div></div></div>That puts martech (marketing tech) companies like NewsCred in a strong position when it comes to attracting the attention of VCs. And that comes at a time when <a href="http://blogs.wsj.com/cmo/2014/06/02/why-ad-tech-stocks-are-going-south/">ad tech companies have been taking a beating on the public markets.</a>Islam said: "VCs will not touch the ad tech market with a 10-foot pole, and a lot of ad tech companies are repositioning themselves right now - some as martech or some as SaaS [software as a service] - to try to get funding."Back in June, Menlo Partners managing director Venky Ganesan concurred with this view, <a href="http://blogs.wsj.com/cmo/2015/06/10/ad-tech-firms-find-venture-capital-funding-is-running-dry/">telling The Wall Street Journal</a>: "[Investment has] almost evaporated. These companies are struggling to even get meetings."That said, there have been a couple of major ad tech funding rounds recently: <a href="http://www.businessinsider.com/adtech-company-radiumone-raises-54-million-in-equity-and-debt-2015-6">RadiumOne raising $54 million</a>, and <a href="http://www.businessinsider.com/tubemogul-raises-829-million-in-secondary-market-offering-2015-6">TubeMogul raising $83 million</a>, both in June.<h2>Content is "immune" from ad blocking</h2>Ad sellers are also battling right now with the rise of ad blocking. Almost 200 million people worldwide use ad blocking software on a monthly basis, up 41% year-over-year, <a href="http://www.businessinsider.com/pagefair-and-adobe-2015-ad-blocking-report-2015-8">according to a report from Adobe and PageFair.</a>Islam thinks the rise of ad blocking is directly correlated with the rise of content marketing."Logistically, from a purely tech point of view, [because content marketing is loaded in the same payload as the actual organic content on a page] it makes us immune and bullet-proof to ad blockers," Islam said. "But there's something bigger going on. All marketing is suffering. <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">Advertising</keyword> has become an enemy of the people. People say it's terrible, disruptive, interruptive, and hasn't seen any innovation in the last 20 to 30-years."Content, on the other hand, is relevant, interesting and can be measured for performance than display ads because humans share content with their friends online, whereas non-human bots can "click" on ads, according to Islam.Litron Gitig, FTV Capital partner, said in a statement: "The marketing landscape is converging and content is at the core. Quality content is crucial for building brands and driving sales. Today, customers engage with about a dozen items of content before making a purchase, NewsCred provides the best solution and has already taken great strides at redefining how the modern marketer can successfully navigate the complexities in this rapidly evolving space. In NewsCred, we see not only a passionate and sophisticated management team, but also an <keyword id="6356323" type="UNKNOWN" weightage="60" keywordseo="Enterprise">enterprise</keyword> solution that the market absolutely needs."Other participants in this Series D round include existing investors FirstMark Capital, InterWest Partners, IA Ventures, Mayfield, and Greycroft. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/donald-trump-jeb-bush-politics-advertisement-george-bush-willie-horton-2015-9">Everyone's talking about Trump's Jeb Bush attack ad that looks a lot like the infamous 'Willie Horton' ad from 1988</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xmazFidzqAvuBb2_8d7Gkt0Lj1oKFTiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

NewsCred's CEO says its new funding shows how content marketing 'is becoming marketing'

Mumbai, Mar 18 () Chennai-based non-banking lender and debt arranger Vivriti Capital has raised Rs 350 crore in series B funding from private equity firm LGT Lightstone Aspada, taking the overall investment in the three-year-old company to Rs 700 crore. Vivriti Capital, which has a loan book of around Rs 1,500 crore and runs online enterprise debt platform CredAvenue, will use the funds to scale up balance sheet of its credit business and invest in technology upgrade for debt arranging platform, the company's co-founder Gaurav Kumar told over phone from Chennai. The company will be launching an alternative investment fund next month, having got commitment from institutional investors for Rs 250 crore, Kumar said, adding he hopes to increase the company's balance sheet to Rs 2,000 crore in the next fiscal. CredAvenue, the proprietary enterprise debt deal and value discovery online platform, has grossed volume of Rs 25,000 crore since its launch, and Kumar expects it to reach Rs 30,000 core by the end of March and Rs 50,000 crore by the end of next financial year (2020-21). The platform connects high quality debt issuers and investors, offers credit underwriting solutions, analytical models, cutting edge structuring solutions and automated execution workflows. It has over 2,000 corporate/enterprise users, he said. CredAvenue has facilitated debt deal of over Rs 25,000 crore for banks, NBFCs, small finance banks, mutual funds, financial institutions and family offices. On the credit business, Kumar claimed that the company has zero bad loans and prices it debt at 11-15 per cent. He said the company primarily focuses on small pharma, healthcare players and smaller non-banks. The city-based investment bank Avendus Capital was the sole financial advisor for the fund raising round, Kumar said. LGT Lightstone Aspada is an India-focused fund from LGT Lightstone, a global impact investment firm that invests in companies to build scale by leveraging. LGT Lightstone is part of the Liechtenstein-based LGT Group, a private banking and asset management group owned by the royals of Liechtenstein. BEN RVK

Vivriti Capital raises Rs 350 cr from LGT Lightstone Aspada

<ul class="summary-list"><li>Distress in a corner of the commercial mortgage market rose 440% in the last year. </li><li>Loans packaged into commercial real estate CLOs saw a big uptick in distress. </li></ul>Distress levels in an important corner of the commercial real estate debt market have rocketed higher in the last year. Commercial mortgages packaged into collateralized loan obligations and sold to investors as bonds saw a distress rate of 8.6% in January, marking a huge jump from the beginning of 2023 when the rate was 1.4%. The amount of outstanding loans packaged into CLOs is about $80 billion, according to a <a href="https://cred-iq.com/blog/2024/02/23/cre-clo-distress-rates-surge-over-440-in-12-months/?utm_campaign=Newsletter&amp;utm_medium=email&amp;_hsmi=295398011&amp;_hsenc=p2ANqtz-8kVRTLXt5f244O_ojTSVvzPpZhUIV1LuFwOeDL4ec2BghQnzMIwu4m3alV3REMEjd8zpBnC04ZbpHfNnRMjzX8NaBbDA&amp;utm_content=295398011&amp;utm_source=hs_email" target="_blank" rel="noopener">report</a> by data and analytics firm CRED iQ.By dollar amount, loans that experienced some level of distress grew from $1.3 billion in February of 2023 to $6.8 billion last month, rising about 440%, CRED iQ said. The data firm defines distress as loans that are 30 days or more late on making a payment.Commercial property loans that get packaged into CRE CLOs are primarily short-term, floating-rate mortgages backed by buildings in need of some updating or further investment. The loans are typically three-year loans with the option to extend, and many borrowers aim to refinance with cheaper fixed-rate debt. Major CLO issuers are vulnerable to losses if borrowers default. Many of the loans were originated in 2021 when rates had not yet risen. Three years later, as <a href="https://www.businessinsider.com/interest-rate-cuts-delay-2024-federal-reserve-markets-2024-2#:~:text=Last%20December%2C%20Fed%20Chair%20Jerome,adjust%20their%20expectations%20in%202024.">the Federal Reserve's rate cut timelines</a> continue to get pushed out, commercial property owners are faced with refinancing at higher interest rates and possibly lower property valuations. Multifamily and office building borrowers bore the brunt of the distress among loans packaged into CRE CLOs, according to CRED iQ. The office sector in particular is facing big problems as remote work trends persist with no apparent turnaround in sight. Meanwhile, concerns ar mount over a looming surge in commercial real estate debt, estimated<a href="https://www.businessinsider.com/real-estate-outlook-office-buildings-vacancies-commerical-markets-investors-remote-2024-1"> at nearly $1.5 trillion in the coming years.</a>

You Searched For "cred investments" and got 5 results

Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77%

IANS

CRED CEO Kunal Shah reveals his salary, takes Rs 15,000 monthly

IANS

NewsCred's CEO says its new funding shows how content marketing 'is becoming marketing'

Lara O'Reilly

Vivriti Capital raises Rs 350 cr from LGT Lightstone Aspada

PTI

Distress soared 440% in a key corner of the commercial real estate debt market in the last year

Yuheng Zhan

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