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InCred Finance Appoints New CFO, Gears Up for IPO

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InCred Finance Appoints New CFO Gears Up for IPO

InCred Finance, a prominent player in the Indian consumer and MSME lending space, has appointed Gaurav Maheshwari as its new Chief Financial Officer (CFO). Maheshwari brings over 27 years of experience in financial leadership, having held senior positions at Standard Chartered Bank, Altico Capital, and other notable organizations.

This appointment comes at a crucial juncture for InCred Finance as the company prepares for an initial public offering (IPO) scheduled for the last quarter of 2025. The firm aims to raise between ₹4,000 crore and ₹5,000 crore (approximately $471–588 million) through this IPO, which will further fuel its growth and expansion plans.

Focus on Growth and Expansion

Maheshwari’s expertise will be instrumental in driving business growth, enhancing capital efficiency, and strengthening corporate governance as InCred Finance embarks on this new phase. His extensive background in finance will help navigate the complexities of the IPO process and ensure that the company is well-positioned for future success.

Strategic Goals

  • Capital Raising: The funds raised from the IPO are expected to support InCred’s expansion initiatives and strengthen its balance sheet.
  • Market Positioning: By going public, InCred aims to enhance its visibility and credibility in the competitive financial services market.

Strong Financial Performance

InCred Finance has demonstrated robust financial performance in recent years. In the fiscal year 2024, the company recorded a 48% increase in revenue from operations, reaching ₹1,267 crore, while achieving a profit after tax (PAT) of ₹316 crore. This impressive growth underscores the company’s strong business model and operational efficiency.

Assets Under Management

As of FY24, InCred Finance reported assets under management (AUM) worth ₹9,039 crore, reflecting a significant year-on-year increase of 52%. This growth trajectory positions InCred favorably within the Indian lending landscape.

Investor Confidence

Backed by a strong investor base that includes prominent names such as Ranjan Pai, KKR, and the Abu Dhabi Investment Authority, InCred Finance has garnered significant investor confidence. This backing reflects the company’s potential to disrupt the Indian financial services market with its innovative products and services.

Notable Investors

  • KKR holds a 13.4% stake in InCred and is expected to play a crucial role during the IPO process.
  • Other investors include OAKS, Investcorp, Moore Capital, and Elevar Equity.

Looking Ahead

With Gaurav Maheshwari’s appointment as CFO and the upcoming IPO, InCred Finance is well-positioned for continued growth and success in the Indian financial services landscape. The company is focused on enhancing its secured loans business while navigating regulatory challenges in the lending environment.

Future Plans

InCred’s leadership has indicated that they are committed to engaging closely with regulators to ensure compliance while pursuing their growth objectives. The company aims to leverage its strong foundation to expand its product offerings and enhance customer access to credit.

Conclusion

The appointment of Gaurav Maheshwari as CFO marks a pivotal moment for InCred Finance as it gears up for its IPO in late 2025. With strong financial performance, significant investor backing, and a focus on growth strategies, InCred is poised to make a substantial impact on the Indian financial services market. As it prepares for this next chapter, stakeholders will be keenly watching how these developments unfold and contribute to the company’s long-term success.

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ZILO Raises $4.5M to Boost Quick Fashion Delivery

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Zilo - StartupStories

Mumbai-based fashion tech startup ZILO has raised $4.5 million in seed funding, with Info Edge Ventures and Chiratae Ventures co-leading the round. Founded in 2025 by ex-Flipkart and Myntra executive Padmakumar Pal and entrepreneur Bhavik Jhaveri, ZILO aims to transform urban fashion retail by delivering products from over 250 brands—including Levi’s, Louis Philippe, and Puma—within 60 minutes of order placement. The new capital will be used to strengthen ZILO’s hybrid supply chain, deepen brand partnerships, and expand operations beyond Mumbai into other major metro cities by year-end.

ZILO’s quick commerce model stands out by combining the convenience of online shopping with the efficiency of offline retail. The platform operates through a network of dark stores and brand outlets to ensure fast delivery of fresh, in-season fashion items. Customers benefit from scheduled home trials, allowing them to try multiple sizes upon delivery with the option for instant returns, and receive AI-powered style recommendations for a more personalized shopping experience.

The funding comes amid surging investor interest in ultra-fast fashion delivery startups, as rapid fulfillment becomes a key differentiator in India’s competitive ecommerce landscape. With plans to expand its product range to include footwear, bags, and accessories by the festive season and scale up to nearly 100,000 styles, ZILO is positioning itself to meet the growing demand for speed, personalization, and reliability in fashion retail.

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Meta in Advanced Talks to Acquire Voice Cloning Startup PlayAI to Boost AI Capabilities

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Meta Ai

Meta Platform is reportedly in advanced talks to acquire PlayAI, a Palo Alto-based startup renowned for its cutting-edge voice cloning technology powered by artificial intelligence. While the deal is not yet finalized, sources indicate that Meta aims to acquire both PlayAI’s proprietary technology and a significant portion of its staff. Though financial details remain confidential, industry insiders estimate the acquisition could be worth between $300 million and $500 million.

PlayAI has made a name for itself by developing tools that generate highly realistic voice clones, with applications spanning customer service, virtual assistants, and conversational AI agents. A key differentiator for PlayAI is its low-latency, edge-computing architecture, allowing for near-instant, natural-sounding voice responses. The startup has attracted over $23 million in funding from notable investors such as 500 Startups and Kindred Ventures, positioning itself as a leader in the rapidly growing field of voice AI.

For Meta, this potential acquisition fits squarely within CEO Mark Zuckerberg’s broader strategy to make artificial intelligence central to the company’s future. Integrating PlayAI’s advanced voice technology could significantly enhance Meta’s AI assistant, smartglasses, and other hands-free devices, helping the company keep pace with competitors like Google and OpenAI. The move also follows Meta’s recent multi-billion dollar investment in Scale AI and its aggressive recruitment of top AI talent, signaling Zuckerberg’s commitment to leading in the next wave of AI innovation. Both Meta and PlayAI have declined to comment on the ongoing negotiations.

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Elon Musk Bans Hashtags from X Ads, Ushering in a New Era of AI-Driven Marketing

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Hashtag on X

Elon Musk has announced that, starting June 27, 2025, hashtags will be banned from all promoted posts on X (formerly Twitter). This policy applies exclusively to paid advertisements, meaning regular users can still include hashtags in their personal posts. Musk described hashtags in ads as an “esthetic nightmare,” emphasizing that the change is intended to create a cleaner, less cluttered feed where advertisements blend more seamlessly with organic content. 

The ban reflects Musk’s long-standing criticism of hashtags, which he has called “ugly” and unnecessary. He argues that with the platform’s advanced AI tools, such as the Grok chatbot, hashtags are no longer essential for content discovery or categorization. Instead, X’s algorithms can now surface and organize relevant content and ads without relying on manual tags, signaling a broader industry shift toward AI-driven content curation.

For advertisers, this marks a significant departure from traditional social media marketing strategies, where hashtags have been key for engagement and campaign tracking. Brands will now need to adapt by focusing on compelling visuals, concise copy, and leveraging X’s AI-powered targeting. The move has sparked debate among marketers and users, with some supporting the cleaner look and others lamenting the loss of a familiar engagement tool.

 

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