InCred Capital forays into retail wealthtech with Orowealth acquisition
Vijay Kuppa, the co-founder of Orowealth, will lead InCred Money as the CEO.
InCred Capital has entered into the retail wealthtech industry with the acquisition of Orowealth in an all-cash deal.
With this acquisition, the company has launched InCred Money, a retail-focussed digital investment platform.
The acquisition brings AuM (assets under management) of Rs 1,100+ crore along 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 CEO, according to a press release.
Founded by three IIT Bombay batchmates in 2016, Nitin Agrawal, Vijay Kuppa and Yogesh Powar, Orowealth is a retail-focussed digital investment platform that helps retail investors diversify their
portfolio by providing access to niche, low-ticket investment opportunities, which were historically available only to HNIs/ UHNIs and Corporates.
The startup allows users to invest in multiple products such as bonds, mutual funds, fractional real estate, green investing, P2Ploans, invoice discounting, etc. Investors can get personalised guidance and access detailed reports, research, and portfolio insights.
“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. I am excited to be joining the InCred Group and leading a key pillar of their overall strategy,” added Orowealth Co-founder Vijay Kuppa.
This will be InCred Capital’s second step in the Indian wealth market, following its previous success in the Ultra/High Net Worth segment under the InCred Wealth brand.
Edited by Affirunisa Kankudti