Incred Financial Services Pvt Ltc (FMO-55372)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Incred Financial Services Pvt Ltc
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 36.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 36.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Feb 21, 2019

Disclosed by Bank Feb 8, 2019


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Project Description

According to the bank website, the proposed investment provides capital to support InCred's next growth stage. FMO will play an active role in incorporating Environmental, Social and Corporate Governance principles in the organisation and will support with improving impact reporting.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

According to FMO, InCred is a Non-Banking Financing Company ("NBFC") providing access to finance for under-banked individuals and businesses in India. InCred has diversified its activities into: SME business loans, education loans, two-wheeler loans, lending to small NBFCs and MFIs and individual loans and is headquartered in Mumbai, India. InCred's model leverages on cutting edge technology and data science to increase access to finance and make financials services for its customers quick and easy. InCred started lending in 2017, is rapidly growing and profitable since its first year of operations.

Contact Information

No project-specific contact information available at time of writing.

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism