InCred Capital acquires Orowealth to foray into retail wealth-tech with launch of InCred Money
InCred Money has been launched with the acquisition of Orowealth in an all-cash deal
InCred Capital is set to enter the retail wealth-tech industry with the launch of ‘InCred Money’. InCred Money has been launched with the acquisition of Orowealth in an all-cash deal, pending necessary clearances, the company announced on Monday.
The acquisition brings assets under management (AuM) of ₹1,100+ cralong with a robust technology platform and an experienced team to InCred Money. Vijay Kuppa, the co-founder of Orowealth, will lead InCred Money as the chief executive officer (CEO) going forward, it said.
“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," the company added.
The InCred Group will aim to provide InCred Money with access to its full suite of product capabilities. InCred Money will also develop a B2B2C offering by leveraging technology to effectively integrate a wide network of Independent Financial Advisors (IFA) across the country, giving them the ability to tap into the class-leading products and solutions for the benefit of their end customers, it said.
Orowealth is a retail-focused digital investment platform that provides providing access to niche, low-ticket investment opportunities, in addition to traditional investment avenues including mutual funds and fixed deposits, which are a part of Orowealth’s offerings.
Bhupinder Singh, Founder and Group CEO of InCred Group, said “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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