InCred, a Mumbai based NBFC, has now secured INR 500 crore of debt funding from the various public sector banks and public financial institutions.
The debt issuance took the form of term loans, NCDs, and market-linked debentures.
According to the report, the latest funding round will boost the InCred lending expansion across the select segments in the education, consumer, and MSME markets.
InCred as of now disburses four types of loans – education, personal, SME and home.
Speaking on the development, Vivek Bansal, Group CFO of InCred, said: “InCred is strengthening its funding base to support its growth vision. The recently concluded debt issuance is an endorsement of our business model, risk, and analytics philosophy and our prudent ALM policies.”