InCred Finance, the consumer and MSME lending arm of the InCred Group, announced the appointment of Gaurav Maheshwari as its Chief Financial Officer, effective December 16, 2024. This strategic move will be seen as an attempt to strengthen the financial leadership of the company in order to take it forward in its growth trajectory and towards an eventual public listing.
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Gaurav Maheshwari has over 27 years of experience in finance management and leadership. Gaurav has worked in Standard Chartered Bank for more than two decades in the role of Cluster CFO for India and South Asia. During that time, he led financial operations and strategic initiatives of scale across the region.
Besides being in Standard Chartered, Maheshwari has been part of some of the prestigious organisations. He has been a part of Altico Capital, Reuters India, and Coca-Cola India in senior roles. Given the diversity of experience in managing finances, he would offer value insights that could help propel business performance and optimize capital at InCred Finance.
InCred Finance is currently navigating an exciting phase of growth, reportedly planning to go public in the near future. The company is targeting a listing in the last quarter of 2025, with plans to raise between ₹4,000 to ₹5,000 crore (approximately $471 to $588 million) through its initial public offering (IPO). Maheshwari’s appointment comes at a crucial time as the organization gears up for this significant transition.
According to InCred, Maheshwari’s expertise will be instrumental in strengthening governance and supporting the company’s ongoing expansion. His insights into financial strategy are expected to contribute to enhanced operational efficiency and performance as InCred Finance scales its operations to meet increasing market demands.
Founded in 2016 by Bhupinder Singh, InCred Finance is an NBFC providing a wide range of lending solutions, including personal loans, student loans, MSME loans, and loans against property. The company has rapidly scaled up in the financial services space and has catered to a wide array of customer needs.
In the fiscal year 2024, InCred Group reported impressive financial results wherein the revenue from operations surged 48% to ₹1,267 crore. Additionally, the group had also delivered a PAT of ₹316 crore in the same period. The solid performance is indicative of its market position and dedication towards innovative financial solutions.
This significant business also relies on a consortium of established names like Ranjan Pai, KKR, Abu Dhabi Investment Authority, TRS, OAKS, Investcorp, Moore Capital, Elevar Equity, and the others in general. This significant funding thus confirms investor confidence in InCred’s business model along with providing the means needed by their huge growth plans.
The appointment of Gaurav Maheshwari as CFO marks a significant step for InCred Finance as it prepares for future growth and a public listing. With his extensive experience and strategic vision, Maheshwari is well-poised to play a vital role in steering the company through its next phase of development. As InCred Finance continues to expand its operations and enhance its offerings, the leadership of Maheshwari is expected to be a key factor in its ongoing success in the competitive financial services landscape.
