InCred acquires Orowealth

InCred Capital has acquired digital investment firm Orowealth in an all-cash deal, owning a 71% stake in the company post regulatory approvals.

InCred will take over Orowealth’s assets under management (AUM) of over Rs 1,100 crore. Orowealth’s Co-founder Vijay Kuppa will lead InCred Money as the Chief Executive Officer. Orowealth offers low-cost wealth management services to retail customers and financial intermediaries such as banks, brokers, and wealth managers.

With the acquisition, InCred will also launch InCred Money. InCred Money will develop business-to-business-to-consumer (B2B2C) offerings using technology to integrate a network of independent financial advisors (IFA) across India and allow them to tap class-leading products and solutions for the benefit of their end customers.

Bhupinder Singh, Founder and Group Chief Executive Officer 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.”

Vijay Kuppa said, “We target retail investors with a net worth of Rs 5 lakh to Rs 5 crore facilitating access to niche, low-ticket investment opportunities, in addition to traditional investment tools like fixed deposits. We also plan to launch services allowing investments in government bonds going forward. With the synergies from this acquisition, we aim to grow our AUM to Rs 5,000 crore in the next one year.”