InCred looks to invest Rs 50 crore in Walnut

Money 4 (TS) — InCred offers loans for personal needs, education and small businesses.

BENGALURU| MUMBAI: Nonbanking finance company InCred Finance is seeking to invest around Rs 50 crore into Pune-based personal finance management startup Walnut as the Anshu Jain-backed company is extending its investments in new-age companies, said two people in the know of the matter. This company, run by ex-Deutsche Bank senior executive Bhupinder Singh, was started about two years ago with its expanding product kitty. It offers loans for personal needs, education and small businesses. The likely investment may mark its first significant foray into the new age digital world. InCred declined to comment while Walnut said that they did not want to comment on the development.