# InCred funding: rounds and investors > InCred has raised $147M across 3 rounds since 2018. Investors include Netherlands Development Finance Company, Neo and FMO. Every round with its source. Source: https://millionrounds.com/company/incred (Millionrounds; every figure on the page links to its filing or article) India · [Funded startup](https://millionrounds.com/companies) # Who invested in *InCred* 3 rounds we have observed, with the 8 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. B2C Fintech Valuation: $1.1B, Mar 2026 Funding summary Updated 26 Oct 2026 **$147M** raised across 3 rounds since 2018, from 3 sources **$42M** Round **$58M** Round **$47M** Debt - **Latest round:** Debt, $47M Jul 2025 - **Biggest round:** $58M Round · Apr 2019 - **Investors:** 8 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2019 2020 2021 2022 2023 2024 2025 **$42M** Round **$58M** Round **$47M** Debt - **First round:** Round, $42M - **Biggest round:** $58M - **Usual gap between rounds:** 6.2 years ## The rounds - **Jul 2025** Debt **$47M** *2 new* [Neo](https://millionrounds.com/fund/neo) [FMO](https://millionrounds.com/fund/fmo) Source recorded - **Apr 2019** Round **$58M** *5 new* Netherlands Development Finance Company Lead [Moore Strategic Ventures](https://millionrounds.com/fund/moore-strategic-ventures) [Alpha](https://millionrounds.com/fund/alpha) V Ocean Investments Vistra ITCL Reported by Entrackr - **Nov 2018** Round **$42M** *1 new* Bhupinder Singh/ Paragon Partners Reported by Inc42 ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Round** 2018 **Round** 2019 **Debt** 2025 Netherlands Development Finance Company L [Neo](https://millionrounds.com/fund/neo) [FMO](https://millionrounds.com/fund/fmo) [Moore Strategic Ventures](https://millionrounds.com/fund/moore-strategic-ventures) [Alpha](https://millionrounds.com/fund/alpha) Bhupinder Singh/ Paragon Partners V Ocean Investments Vistra ITCL ## Everyone who backed them Netherlands Development Finance Company no record of our own yet **1** round, led 1 [Neo](https://millionrounds.com/fund/neo) Accelerator **1** round [FMO](https://millionrounds.com/fund/fmo) Government **1** round [Moore Strategic Ventures](https://millionrounds.com/fund/moore-strategic-ventures) VC firm **1** round [Alpha](https://millionrounds.com/fund/alpha) VC firm **1** round Bhupinder Singh/ Paragon Partners no record of our own yet **1** round V Ocean Investments no record of our own yet **1** round Vistra ITCL no record of our own yet **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=incred). ## Also claim to have backed them These 4 firms list InCred as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Jayesh Parekh](https://millionrounds.com/fund/jayesh-parekh) Angel Per its own site [Finvolve](https://millionrounds.com/fund/finvolve) VC firm Per its own site [Insist Invest](https://millionrounds.com/fund/insist-invest) Family office Per its own site [RAAY Global Investments](https://millionrounds.com/fund/raay-global-investments) Family office Per its own site ## Quick answers about InCred ### Who invested in InCred? InCred's investors include Netherlands Development Finance Company, Neo, FMO, Moore Strategic Ventures and Alpha, and 3 more on record. ### How much has InCred raised? InCred has raised $147M across 3 rounds since 2018. ### When did InCred last raise? InCred's most recent round was a Debt of $47M in Jul 2025. ### What was InCred's biggest round? InCred's largest round on record is $58M (Undisclosed round), in Apr 2019, led by Netherlands Development Finance Company. ### Who backed InCred first? InCred's first round on record, in Nov 2018, was backed by Bhupinder Singh/ Paragon Partners. ### What stage is InCred at? InCred's latest named round is a Debt, in Jul 2025. ### Where is InCred based? InCred is based in India. ### Who led InCred's rounds? Netherlands Development Finance Company led the Undisclosed round in 2019. ## Companies like InCred In the same sector, and raised in the last eighteen months. [**Onto** $125M · Oct 2026](https://millionrounds.com/company/onto)[**RocketPay** $1.1M · Oct 2026](https://millionrounds.com/company/rocketpay)[**Traya** $32M · Oct 2026](https://millionrounds.com/company/traya)[**Foundry** $81M · Oct 2026](https://millionrounds.com/company/foundry)[**MakeO** $26M · Oct 2026](https://millionrounds.com/company/makeo)[**NeoGrowth** $99M · Oct 2026](https://millionrounds.com/company/neogrowth) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app