What InCred Money does

InCred Money (operating entity: ETA Fintech Private Limited) is an Indian retail wealth-tech platform headquartered in Mumbai, launched in May 2023 under InCred Capital/InCred Group and built on the acquired Orowealth technology stack and customer base of approximately INR 1,350+ crore AUM. The platform consolidates multiple alternative and traditional asset classes — digital gold and silver (powered by MMTC-PAMP), corporate and tax-free bonds (executed via Biddeasy.com through Oro Financial Consultants), fixed deposits from RBI-regulated banks and NBFCs, market-linked debentures with Nifty-linked returns and principal protection, unlisted/pre-IPO equities, Indian equities and derivatives, and US stocks — into a single self-serve web and mobile application. Technical infrastructure includes dedicated sub-platforms (e.g., InCred Unlisted), PAN/Aadhaar/video KYC flows, multi-exchange broker memberships (NSE, BSE, MCX, NCDEX, NSDL) held through InCred Money Broking Limited, and consolidated customer grievance escalation. Revenue mechanics span a ₹999/month unlimited-trade broking subscription, affiliate/referral commissions on FD distribution and digital gold/silver transactions, and transaction-fee-based corporate bond distribution, with go-to-market primarily via direct-to-consumer digital onboarding supplemented by a B2B2C Independent Financial Advisor channel and asset-issuance partnerships with parent-group InCred Financial Services Limited (issuer of proprietary MLDs) and MMTC-PAMP. The company serves mass-affluent and retail Indian investors with low minimum tickets (₹10 to ₹1 lakh) seeking diversified, SEBI-regulated alternative investments, supported by a leadership team led by CEO Vijay Kuppa (former Orowealth co-founder) and 11-50 employees.

Name

InCred Money

Legal name

ETA Fintech Private Limited

Website

https://incredmoney.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

101–250 employees

Short description

InCred Money (ETA Fintech Private Limited) is a Mumbai-based retail wealth-tech platform offering Indian mass-affluent investors single-app access to digital gold/silver, fixed deposits, corporate bonds, MLDs, unlisted shares, and Indian and US equities, operated under InCred Group.

Ownership category

akta.pro rank

Product category

Retail Wealth Management

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Investment Pools and Funds (5259), Other Financial Vehicles (52599)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199), Asset-Backed Securities (6189)

akta.pro primary industry

Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)

akta.pro secondary industry

Asset-Backed Securities (ABS) (FSACACAA)

Keywords

• Retail wealth platform
• Alternative investments
• Digital broking
• Fixed deposits online
• Market linked debentures

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Broking Subscription: ₹999/month subscription for unlimited trades on listed securities (stocks, F&O). Fee is charged to end customers for trading access.
2. Fixed Deposit Distribution: ETA Fintech Private Limited acts as Sub Agent/Referral Partner for distribution of Fixed Deposits of Banks and NBFCs, earning referral commissions. Funds go directly to regulated entity offering FD.
3. Digital Gold/Silver Facilitation: InCred Money acts as referral partner and technology facilitator for digital gold/silver transactions powered by MMTC-PAMP. Receives remuneration from MMTC for facilitating transactions.
4. Corporate Bond Distribution: Transactions executed on Biddeasy.com, an Online Bond Platform registered with BSE and NSE under Oro Financial Consultants Pvt Ltd. Commission-based distribution of SEBI-listed corporate and tax-free bonds.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

InCred Money is a digital wealth-tech platform operated by ETA Fintech Private Limited under the InCred Group. It enables retail and mass-affluent investors to access a diversified suite of alternative and traditional investment products — including corporate and tax-free bonds, market linked debentures (MLDs), fixed deposits from RBI-regulated banks and NBFCs, digital gold and silver, unlisted/pre-IPO shares, and Indian and US equity broking — through a single self-serve mobile and web interface with low minimum ticket sizes starting at ₹10.

Product overview

InCred Money is a comprehensive wealth-tech platform offering a diversified portfolio of investment products. The platform operates on a unified architecture providing both B2C retail investor access and B2B2C channel for financial advisors. Core products include: Digital Gold & Silver (powered by MMTC-PAMP, starting at Rs. 10), Fixed Deposits from RBI-regulated banks/NBFCs (up to 9.25% for seniors), Corporate Bonds via Biddeasy (from Rs. 1,000), Market Linked Debentures with principal protection, Unlisted Shares through InCred Unlisted platform, and Indian/US equity broking. The platform acquired Orowealth (May 2023) and Stocko (June 2025) to expand capabilities. Recent expansion includes in-principle Sebi approval for mutual fund AMC license (June 2026).

Differentiator

Problem solved

Functional benefit

Products and services

• InCred Money Wealth Platform A comprehensive wealth-tech platform enabling retail and mass-affluent investors to access alternative investments including unlisted shares, digital gold & silver, fixed deposits, bonds, MLDs, and equity broking. Available to investors and financial advisors.
• Digital Gold & Silver Digital gold and silver investment with 999.9+ purity (24K gold), starting from ₹10, stored in MMTC-PAMP's bank-grade vaults. Physical delivery available from 1 gram onwards.
• Fixed Deposits Fixed deposits from RBI-regulated banks and NBFCs accessible on a single platform. Interest rates up to 9.25% p.a. for senior citizens and 9.01% p.a. for regular investors. Minimum investment ₹5,000.
• Corporate Bonds SEBI-listed corporate and tax-free bonds with returns up to 12% annual, executed through Biddeasy.com (BSE/NSE registered Online Bond Platform). Minimum investment ₹1,000.
• Market Linked Debentures (MLDs) Market-linked debentures providing equity market participation with 100% principal protection at maturity. Returns linked to Nifty 50 Index with features like 1.5x upside and 'Anytime Liquidity'. Issued by InCred Financial Services Limited. Minimum investment ₹1 lakh.
• Unlisted Shares (InCred Unlisted) Pre-IPO and unlisted equity shares investment platform, offering investment opportunities previously available only to HNIs and corporates now accessible to retail investors.
• Indian Stocks Broking (InCred Stocko) Equity broking services for Indian stocks through unlimited trades at ₹999/month. SEBI-registered stock broker with access to NSE, BSE, MCX, NCDEX, and depository services through NSDL.
• US Stocks International stock investment platform enabling retail investors to access US equity markets.

Quantifiable outcome

• Trusted by over 1,50,000 customers
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core.

• WPP MediacoreGTM or Marketing Partner · 3 December 2025WPP Media appointed as performance marketing partner for InCred Money to lead full-funnel marketing strategy from Mumbai. The partnership aims to accelerate InCred Money's digital growth and broaden its investor base across multiple asset classes including Unlisted Shares, Digital Gold, Equity Broking, and upcoming Mutual Funds and US Stocks. Focus on data, technology, and creativity.
• StockocoreOthers · 16 June 2025InCred Money acquired Stocko (a Delhi-based discount broker platform) for approximately ₹300 crore ($35 million) to forayer into retail broking. Stocko acquisition marks InCred Money's entry into the discount broking segment and adds to its SEBI-registered broker licenses.
• RBI-Regulated Banks and NBFCs (FD Distribution Partners)coreChannel Partner/ Reseller/ Distributor · 2 April 2023Multiple RBI-regulated Scheduled Commercial Banks including Small Finance Banks (Utkarsh Small Finance Bank, South Indian Bank, slice small finance bank) and NBFCs. InCred Money acts as Sub Agent/Referral Partner for distribution of their Fixed Deposits. Products include Bank FDs and NBFC/Corporate FDs.
• OrowealthcoreOthers · 2 January 2023InCred Money launched through acquisition of Orowealth, a leading retail-focused digital investment platform with AUM of ₹1,100-1,350+ Cr. Vijay Kuppa (Orowealth co-founder) became CEO of InCred Money. Orowealth brought technology platform, team, and customer base.
• MMTC-PAMP India Private LimitedcoreTechnology or IntegrationMMTC-PAMP is the custodian and issuer of digital gold and silver on the InCred Money platform. InCred Money acts as referral partner and technology facilitator. MMTC-PAMP handles gold/silver custody in bank-grade vaults, delivery, quality, and pricing. InCred Money receives remuneration from MMTC for transaction facilitation.
• InCred Financial Services Limited (IFSL)coreOthersIFSL is the issuer of InCred Money's Market Linked Debentures (MLDs). IFSL attained unicorn status in December 2023 and recorded PBT of INR 298 Cr for Apr-Dec 2023. IFSL is A+ rated (CRISIL AA/Stable).
• Oro Financial Consultants Private LimitedcoreOthersStock broker entity operating in cash and debt segment with BSE and debt segment with NSE, having SEBI registration number: INZ000312534. Registered as Online Bond Platform Provider in BSE Ltd. (Member Code: 6821) and NSE (Member Code: 90389). Executes corporate bond transactions on Biddeasy.com.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Zerodha: India's largest discount broker (acquired via Stocko), offering zero-commission equity delivery, mutual funds, and bonds. Directly competes with InCred Money's broking vertical and increasingly across multi-asset digital wealth.
• Groww: Major Indian retail investment platform spanning stocks, mutual funds, digital gold, FDs, and US stocks. Closest direct competitor to InCred Money's multi-asset consumer wealth platform positioning.
• Upstox: Major Indian discount broker offering trading in stocks, F&O, and mutual funds. Direct competitor to InCred Money's retail broking vertical and broader wealth platform.
• Scripbox: Indian digital wealth advisor offering curated mutual funds, goal planning, and tax solutions. Comparable as a goal-based retail wealth platform and a potential competitor in InCred Money's upcoming AMC launch.
• INDmoney: Indian wealth-tech platform offering multi-asset access including mutual funds, stocks, US stocks, FDs, and loans. Competes head-to-head with InCred Money on the consumer multi-asset investment proposition.
• 5paisa: Indian discount broker offering stocks, mutual funds, insurance, and loans through a digital platform. Comparable in pricing-driven positioning and multi-product retail wealth focus.
• Kuvera: Direct mutual fund platform with goal-based investing, tax-efficient funds, and corporate FDs/bonds. Closely comparable to InCred Money's debt and FD product offering and digital wealth positioning.

Broad incumbents

• Angel One: Established Indian full-service discount broker with research-led offerings in stocks, mutual funds, and bonds. Larger incumbent with deeper broker heritage competing for InCred Money's target customer.
• Paytm Money: One15HNB Finance Capital-backed investment platform within the Paytm ecosystem offering stocks, mutual funds, NPS, and digital gold. Strong D2C reach comparable to InCred Money's distribution ambitions.
• PhonePe (incl. PhonePe Wealth): Large Indian super-app with embedded payments, mutual funds, insurance, and digital gold. Competes on breadth of financial products and distribution scale — a powerful aggregator that can pressure niche wealth platforms.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/incredmoney
• Facebookfacebook.com/IncredMoney
• Instagraminstagram.com/incredmoney
• LinkedInlinkedin.com/company/incredmoney

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about InCred Money