Biography of Bhupinder Singh: Co-founder & CEO of InCred Finance- Entrepreneur
Biography of Bhupinder Singh:
Bhupinder Singh, often referred to as Bhupi, is a key figure
in the financial sector as the Founder and Co-Owner of InCred Finance. He also
holds the position of Co-Chief Executive Officer and Board Member at the
company. In addition to his role at InCred Finance, Bhupi is the Founder and
Group Chief Executive Officer of InCred Capital and the visionary behind InCred
Global Wealth. Bhupi's leadership extends beyond InCred, as he is also a
Co-Owner of KKR India Financial Services. His vast experience and strategic
insight have driven the growth of these organizations, making him a respected
leader in the industry.
Education
Bhupinder Singh is the visionary behind InCred Financial
Services, where he serves as the Founder and Group CEO. With a strong academic
foundation from the prestigious Indian Institute of Management Ahmedabad, where
he earned an MBA between 1997 and 1999, Bhupinder's journey in finance and
leadership began long before he founded InCred. He also holds a Bachelor's
degree in Electrical Engineering from Bhopal University, which he completed in
1996.
With nearly two decades of experience in the financial
services industry, Bhupi has accumulated over seven years of expertise in
managing and supervising businesses in India. His strong educational background
and extensive professional experience have equipped him with the knowledge and
skills needed to navigate the complexities of the financial sector.
Early Steps in the Financial World
Bhupinder's career in investment banking began with stints
at DSP Merrill Lynch Limited and Jardine Fleming and Partners Limited, where he
worked as an Investment Banker in 1999 and 2000. These early experiences in the
financial world equipped him with the knowledge and skills that would later
drive his success at Deutsche Bank and, ultimately, at InCred Financial
Services.
Leadership Roles in Investment Banking
Bhupinder's journey at Deutsche Bank also included serving
as the Head of Investment Banking for the Asia Pacific region from April 2012
to March 2013, and earlier, as the Head of Fixed Income & Equities Sales
& Structuring for the region from November 2008 to March 2012. These roles
were crucial in shaping his expertise in investment banking and laid the
foundation for his future endeavors.
A Dynamic Career at Deutsche Bank
Before establishing InCred, Bhupinder had an illustrious 16-year career at Deutsche Bank, where he held several senior roles. His last position at the bank was Managing Director and Co-Head of Investment Banking & Securities for the Asia Pacific region from April 2013 to December 2015. During this time, he was responsible for overseeing the bank's fixed income, equities, and investment banking divisions, managing a massive $3 billion in revenues, and leading a team of 1,750 investment bankers and traders. His role also involved managing a client franchise that included over 2,000 corporate, high-net-worth, and institutional clients across 15 countries.
Biography of Bhupinder Singh:Co-founder & CEO of InCred Finance Entrepreneur /Investor/Finance/Success story of Bhupinder Singh/InCred Story/Life story
The Journey from Bhopal to Global Business Leader
Bhupi's story is one of determination and ambition, starting
from his roots in the small town of Bhopal to becoming a leader in the global
financial services sector. His journey took him from IIM Ahmedabad to leading
multi-billion-dollar global businesses for Deutsche Bank. In 2016, Bhupi
founded InCred, a financial services group that quickly became one of the
fastest-growing in India. His success has been driven by a deep understanding
of the financial landscape and a commitment to innovation.
Embracing Entrepreneurship
Bhupi's transition from a successful career in global
banking to entrepreneurship was fueled by his recognition of the unique
opportunities in the Indian financial services market. Despite the crowded
landscape with established Public and Private Sector Banks, NBFCs, and
Fintechs, Bhupi identified a gap that could be bridged by a financial
institution combining traditional banking practices with new-age technology. In
2016, he decided to embark on his entrepreneurial journey, leaving behind the
buzz of global banks to create something new and impactful.
Laying the Foundation for InCred
The early days of InCred were focused on meticulous
research, talent acquisition, and fundraising. Bhupi spent the first 12-15
months laying the groundwork for the company, ensuring that it had the right
team and sufficient equity funding to succeed. His dedication to the project
was evident, as he invested everything he owned into the business. Bhupi's
vision for InCred also attracted the attention of global and domestic investors
who believed in his approach and supported the company from the start.
InCred’s Mission to Simplify Lending
In 2017, Bhupi launched InCred as a Non-Banking Financial
Company (NBFC) with a strong emphasis on technology and risk management.
InCred's mission was to make lending quick, hassle-free, and accessible,
particularly for underserved segments of the population. By integrating
cutting-edge technology with best-in-class risk management, InCred aimed to
provide a seamless experience for borrowers, setting it apart from traditional
financial institutions.
Expanding InCred’s Reach and Services
Under Bhupi's leadership, InCred has expanded its services
beyond lending to include wealth management, asset management, investment
banking, and capital markets. The company has also ventured into institutional
equities research and broking, as well as investing in FinTech start-ups
focusing on lending, analytics, and wealth management. With offices across 24
cities in India, as well as in Singapore and the Middle East, InCred has grown
into a comprehensive financial services provider.
A Leadership Style Rooted in Meritocracy
Bhupi's leadership style is characterized by a strong belief
in meritocracy. He fosters a culture where rewards and recognition are based on
performance and hard work. Bhupi's open-door policy ensures that he is
accessible to everyone in the team, regardless of their position. His passion
for InCred's mission is infectious, motivating his employees to share in his
vision and work towards achieving the company's goals.
Building a New-Age Financial Services Group
InCred, founded by Bhupi, is a modern, technology-driven
financial services group that aims to provide a wide range of financial
solutions, including education, affordable housing, SME, and consumer loans.
Bhupi's vision for InCred is rooted in his desire to serve the financial needs
of the Indian population, particularly by making credit accessible and
simplifying the lending process. As the CEO of InCred, he is responsible for
overseeing the overall management of the company, ensuring that it aligns with
his goal of being a trusted financial partner for Indian families.
Remarkable Financial Growth
InCred's financial performance has been impressive, with net
profits skyrocketing in recent years. In FY23, the company's net profit reached
INR 120.9 crore, a fourfold increase from the INR 30.8 crore reported in the
previous fiscal year. Additionally, InCred's operating revenue saw a
substantial 77% rise, jumping to INR 864.6 crore from INR 488 crore in FY22.
This remarkable growth highlights the company's strong financial management and
strategic expansion.
Achieving Unicorn Status
In December 2023, InCred's lending arm reached a significant milestone by achieving unicorn status. This came after a successful Series D funding round, where the company raised $60 million (INR 500 crore) led by Ranjan Pai of Manipal Education and Medical Group. The funding round valued InCred at $1.04 billion, underscoring its rapid growth and the confidence investors have in its future potential.
A Vision for the Future
When discussing his vision for InCred, Bhupi emphasizes the importance
of scaling up the various business units within the company. He is committed to
attracting and retaining top talent, enhancing InCred's technology and risk
framework, and eventually taking the company public to create significant value
for shareholders and employees. Bhupi's forward-thinking approach continues to
drive InCred's growth and success in the financial services industry.
A Strategic Approach to Building InCred
Bhupi's approach to building InCred has been strategic and
deliberate. After spending years at Deutsche Bank, where he managed various
aspects of the bank's operations in London and Singapore, Bhupi brought his
global expertise to InCred. His experience in managing Fixed Income, Credit,
Equities, and Investment Banking divisions has been instrumental in shaping
InCred's business model and operations.
A Legacy of Success and Innovation
Bhupi's career is marked by a legacy of success and
innovation. At Deutsche Bank, he held various high-level positions, including
Global Head of Fixed Income Structuring in London and co-head of Corporate
Banking and Securities for the Asia Pacific region. His ability to identify
opportunities and build successful businesses has been a consistent theme
throughout his career. With InCred, Bhupi continues to apply his expertise and
vision to create a financial services group that is poised for long-term
success.
A timeline for Bhupinder Singh's journey:
1996: Completed Bachelor's degree in Electrical Engineering
from Bhopal University.
1997-1999: Earned an MBA from the Indian Institute of
Management Ahmedabad.
1999-2000: Worked as an Investment Banker at DSP Merrill
Lynch Limited and Jardine Fleming and Partners Limited.
2000-2015: Held various senior roles at Deutsche Bank,
including Managing Director and Co-Head of Investment Banking & Securities
for the Asia Pacific region.
2016: Founded InCred, marking his transition from global
banking to entrepreneurship.
2017: Launched InCred as a Non-Banking Financial Company
(NBFC).
2017-Present: Expanded InCred's services to include wealth
management, asset management, investment banking, and capital markets, growing
the company into a comprehensive financial services provider.
