PC: VCCircle
The InCred Group, focusing on financial services, has acquired Dubai-based Arrow Capital, a boutique financial services firm, so as to strengthen its presence in the Middle East. Founded in 2016, Arrow Capital is Barbados-(and Caymans?)-regulated through the Dubai Financial Services Authority. Its product offering includes wealth management, investment advisory, corporate finance, and asset management services to ultra-high-net-worth individuals, families, trusts, and corporate entities.
In a press release, InCred affirmed that it shall enhance this strategic move toward increasing its global capabilities across wealth management, investment banking, and asset management. This acquisition will accelerate InCred’s growth trajectory, extending InCred’s reach into the regions of the Middle East and Africa. Consequently, an InCred Global Wealth vertical would manage more than $2 billion in assets across Dubai, Singapore, and London.
Bhupinder Singh, founder and CEO, emphasized the significance of this acquisition by noting Arrow Capital’s thorough understanding of the markets in the Middle East and Africa. He stated that Arrow’s strong client relationships and the broad array of services will enable InCred to provide optimal service for the needs of sophisticated clients.
InCred Group manages a microcosm joining businesses across different sectors in financial services: InCred Finance, a lending-focused non-banking financial company; InCred Capital, an institutional, wealth, and asset management platform; InCred Money, its retail wealth tech investment distribution vertical; InCred Global Wealth, an independent advisory for wealth; InCred Premier, an investment platform; and InCred Alternative Investments. Each of these will be a building block to enhance InCred’s market presence and expand its service offerings.
A big milestone for the company has been the fact that InCred Finance successfully entered the unicorn club in 2023, valuing itself at and above the $1 billion rate after the Series D round of funding, having raised approximately Rs 500 crore or $60 million.This achievement marked a pivotal moment in InCred’s growth and further solidified its place in the financial services landscape.
InCred Group is looking to reinforce its foothold in the financial services segment in Dubai with this recent purchase of Arrow Capital. By leveraging Arrow Capital’s expertise in financial services, access to the markets, and established customer network, Incred is looking to further boost its operation and scale its activities in the region. This will in turn allow the group to develop a better relationship with high-net-worth individuals, families, trusts, and corporations in the Middle East while pushing forward with its wealth management, investment banking, and asset management capabilities.
