In 2017 we invested in InCred Finance, a technology enabled retail NBFC, with a focus on improving under-penetrated segments of school infrastructure financing, supply chain financing, business loans, and structured debt to scale SME business. 

Investment Thesis 

• Diversified retail NBFC platform
• Strong management team with proven track record
• Leveraging technology to develop a robust retail platform

• Attractive entry valuation as compared to other retail NBFCs

• Multiple opportunities for liquidity during future fundraises

Paragon Value Add

• Actively involved in helping the business grow its liabilities given our strong network in the banking sector

• Assisted the company in its fund raise process

• Helped hire strong senior management team and independent directors which includes veteran industry professionals from financial institutions

Business Outcomes: InCred’s loan book grew from zero to ₹17,000mn+ in the first 24 months with total income expanding by 30% during the investment period