InCred Capital, the wealth and asset management arm of InCred Financial Services Ltd, has announced the appointment of Vikram Agarwal as its Chief Operating Officer (COO).
Leadership Role and Responsibilities
Agarwal will oversee critical functions including technology, operations, client servicing, compliance, and risk management at InCred Capital. With over 25 years of experience spanning wealth management, broking, asset management, consulting, and technology, Agarwal brings a wealth of expertise to his new role.
Previous Experience and Expertise
In his previous role as COO, Chief Revenue Officer, and board member at Julius Baer India, Agarwal played a pivotal role in the acquisition of the wealth management business from Bank of America Merrill Lynch in India. He has also held leadership positions at Bank of America Merrill Lynch, Accenture, and other technology consulting firms.
Strategic Vision
Bhupinder Singh, Founder and Group CEO of InCred, expressed confidence in Agarwal’s strategic vision and operational expertise, emphasizing his instrumental role in driving growth and scalability for InCred Capital.
Business Expansion and Milestones
Agarwal’s appointment coincides with significant developments at InCred Capital, including the closing of the first round of its maiden private equity fund at over INR 330 Cr. The launch of this maiden Category II alternative investment fund (AIF) in the private equity space in February underscores InCred Capital’s commitment to expanding its offerings and strengthening its position in the market.
Company Background and Financial Performance
Founded in 2016 by Bhupinder Singh, InCred Group operates across various sectors within BFSI, comprising InCred Finance (NBFC), InCred Capital (Wholesale Banking), and InCred Money (Online Distribution Platform). With over $339.9 Mn in funding raised to date, InCred has demonstrated significant growth and resilience in the market.
Parent Entity’s Achievements
InCred Capital’s parent fintech entity, InCred, achieved unicorn status after securing $60 Mn in a Series D funding round led by Manipal Education and Medical Group’s Ranjan Pai. Notably, the parent entity reported a quadrupled surge in net profit to INR 120.9 Cr in FY24 compared to INR 30 Cr in the previous fiscal year, with operating revenue reaching INR 864 Cr, up 77% from INR 488 Cr in FY22.
With Vikram Agarwal assuming the role of COO at InCred Capital, the company is poised to capitalize on his extensive experience and leadership to drive further growth, innovation, and success in the wealth and asset management space. As InCred continues to expand its footprint and deliver value to its stakeholders, Agarwal’s appointment marks a significant milestone in the company’s journey towards achieving its strategic objectives.
