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InCred acquire retail wealthtech startup Orowealth

Press Release   YourStory  

InCred Capital has entered into the retail wealthtech industry with the acquisition of fellow Mumbai-based 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 over INR 1,100 crore along with a technology platform and an experienced team to InCred Money. Vijay Kuppa, the co-founder of Orowealth, will lead InCred Money as the CEO. Founded by three IIT Bombay alumni, Orowealth is a retail-focussed digital investment platform that helps retail investors diversify their portfolio by providing access to niche, low-ticket investment opportunities. 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.

From the Venture Intelligence PE-VC Deal Database: Between Feb 17 and May 18, Orowealth had raised over USD 1.7 M from Powerhouse Ventures, M&S Partners, Social Capital, B Dash ventures and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.) From the Venture Intelligence Private Company Financials Database: Orowealth reported income from operations of INR 2.94 Cr and a Net Loss of INR 83 lakhs for FY22.(Subscribers to the database can login to view the detailed financials.)