InCred Capital Names Vikram Agarwal
InCred Capital, the wealth and asset management division of InCred Financial Services Ltd, has appointed Vikram Agarwal as its Chief Operating Officer (COO).
Agarwal will oversee critical functions such as technology, operations, client servicing, compliance, and risk management at the company, according to a statement by the company.
With over 25 years of experience in wealth management, broking, asset management, consulting, and technology, Agarwal previously served as COO, Chief Revenue Officer, and board member at Julius Baer India, where he played a key role in acquiring the wealth management business from Bank of America Merrill Lynch in India. He also held leadership positions at Bank of America Merrill Lynch, Accenture, and other technology consulting firms.
Bhupinder Singh, founder and group CEO of the company, commented that Agarwal’s strategic vision and operational expertise would be crucial as the company continues to expand its businesses.
This appointment coincides with InCred Capital’s alternative asset management arm closing the first round of its inaugural private equity fund at over INR 330 Cr. Launched in February, this maiden Category II alternative investment fund (AIF) in the private equity space aims for a target corpus of INR 500 Cr.
The company, which acquired wealthtech startup Orowealth last year in an all-cash deal, was founded in 2016 by Bhupinder Singh. The Group operates in the BFSI sector, with three main businesses: InCred Finance (NBFC), InCred Capital (Wholesale Banking), and InCred Money (Online Distribution Platform).
Based in Mumbai, the company has raised over $339.9 Mn in funding to date. Its parent fintech entity, Incred, became a unicorn after securing $60 Mn in a Series D funding round led by Ranjan Pai of Manipal Education and Medical Group.
In FY24, its parent entity reported a quadrupled surge in net profit to INR 120.9 Cr compared to INR 30 Cr in the previous fiscal year. Operating revenue for the same period reached INR 864 Cr, up 77% from INR 488 Cr in FY22.
