InCred Capital has acquired Orowealth, a wealth technology startup, in an all-cash deal that enables it to enter retail wealth management.
Orowealth, which has more than Rs 1,100 crore worth of assets under management (AUM), will be absorbed into InCred’s new wealth-tech platform InCred Money. Orowealth’s co-founder Vijay Kuppa will become the chief executive officer (CEO) of InCred Money, according to a press release.
“I am excited to be joining the InCred Group and leading a key pillar of their overall strategy. I am confident that InCred Money will play a crucial role in making investments easy, trustworthy, and lucrative for the end investor,” said Kuppa.
InCred Group has two verticals: a non-banking finance company called InCred Finance and an institutional wealth management platform InCred Capital. InCred Money marks the group’s foray into retail wealth management and digital investment space.
“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,” said Bhupinder Singh, founder and group CEO of InCred Group.
