InCred Finance appoints Gaurav Maheshwari as CFO

InCred Finance, the consumer and MSME lending arm of the InCred Group, has appointed Gaurav Maheshwari as Chief Financial Officer (CFO), effective December 16, 2024.

Maheshwari brings over 27 years of distinguished experience in financial leadership, including more than two decades at Standard Chartered Bank, where he served as Cluster CFO for India and South Asia. His career also includes senior roles at Altico Capital, Reuters India, and Coca-Cola India.

According to InCred, Gaurav’s insights will be instrumental in driving business performance, enhancing capital efficiency, and strengthening governance as the company continues to scale operations.

The development comes at a time when InCred Finance is reportedly planning to go public. The company is targeting a listing in the last quarter of 2025 and aims to raise Rs 4,000-5,000 crore ($471-588 million) through its IPO.

Founded in 2016 by Bhupinder Singh, InCred Finance is an NBFC offering a diverse portfolio of lending solutions, including personal loans, student loans, MSME loans, and loans against property (LAP).

The InCred Group operates three entities: InCred Finance, InCred Capital, and InCred Money. In FY24, the group’s revenue from operations grew by 48% to Rs 1,267 crore. It also reported a profit after tax (PAT) of Rs 316 crore in the last fiscal year.

The company is backed by investors, including Ranjan Pai, KKR, ADIA, TRS, OAKS, INVESTCORP, Moore Capital, and Elevar Equity, among others.