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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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Bankruptcy Forces BYJU’S to Offload Epic and Tynker for a Fraction of Acquisition Cost

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BYJU’S StartupStories

BYJU’S, once India’s most celebrated edtech startup, has sold its major US-based subsidiaries Epic and Tynker for a fraction of their original purchase prices, marking a dramatic reversal in its global expansion strategy. The distressed sales, approved by a US bankruptcy court on May 20, 2025, come amid the company’s ongoing financial and legal turmoil. Tynker, a coding education platform acquired by BYJU’S in 2021 for $200 million, was sold to CodeHS for just $2.2 million in cash, while Epic, a digital reading platform bought for $500 million in 2022, was acquired by China’s TAL Education Group for $95 million.

These fire-sale transactions were part of a broader restructuring effort to address disputes with lenders after BYJU’S defaulted on a $1.2 billion loan, which triggered bankruptcy proceedings for its US entities. The company’s US unit, Byju’s Alpha, became the focal point of legal battles, including allegations of mismanagement and the misappropriation of funds by top executives. Court rulings in the US have highlighted instances of fraudulent transfers and breaches of fiduciary duty by suspended directors, further compounding BYJU’S woes.

As BYJU’S scrambles to stabilize its core operations, several of its other high-profile acquisitions, such as Great Learning and Aakash Institute, have started operating independently and distancing themselves from the parent company. The massive losses from the sales of Epic and Tynker underscore the risks of BYJU’S aggressive acquisition spree and the severe impact of its financial mismanagement, leaving the future of the once high-flying edtech giant in question.

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Flick TV Secures $2.3M to Revolutionize India’s Micro-Drama Streaming Scene

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Flick TV StartupStories

Flick TV, India’s first mobile-focused OTT platform dedicated to micro-dramas, has secured $2.3 million in seed funding led by Stellaris Venture Partners, with participation from Gemba Capital and Titan Capital. Founded in early 2025 by Kushal Singhal, Pratik Anand, and Sanidhya Mittal, the platform aims to address the growing demand for high-quality, short-form storytelling tailored for mobile consumption. Unlike traditional user-generated short video platforms, Flick TV produces professionally shot, under-five-minute dramas across genres such as romance, thrillers, and slice-of-life—each crafted for vertical viewing to suit India’s rapidly expanding mobile internet audience.

The newly raised capital will be used to scale up content production, with plans to launch over 100 original titles, enhance the platform’s streaming technology, and expand offerings into four regional languages. Flick TV is also investing in generative AI and advanced workflows to streamline scripting and production, aiming to combine creative excellence with operational efficiency. The founders bring deep expertise from previous roles at ShareChat, EloElo, Meesho, and Pocket FM, positioning the company to bridge the gap between creator agility and cinematic storytelling in India’s nascent micro-drama ecosystem.

Industry observers see Flick TV as a frontrunner in India’s next entertainment wave, which is expected to be mobile-native, emotionally engaging, and built for short attention spans. With the micro-drama market projected to reach $5 billion in India over the next five years—mirroring the $7 billion success in China—Flick TV is poised to set new standards for premium, binge-worthy short-form content and redefine streaming for the modern Indian viewer.

 

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Imarticus Learning Acquires MyCaptain for INR 50 Crore to Boost Non-Tech Upskilling

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My Captain

Imarticus Learning, an IPO-bound professional education firm, has acquired Bengaluru-based edtech platform MyCaptain for INR 50 crore in a cash-and-stock deal. This marks Imarticus’s fourth acquisition in four years and is aimed at expanding its presence in non-tech career training, especially across India’s Tier-II and Tier-III cities. MyCaptain, which has over 500,000 learners and a revenue of ₹27 crore for FY25, specializes in creative and entrepreneurial fields, with 60% of its users from smaller cities.

 

With this acquisition, Imarticus will bring MyCaptain’s employability bootcamps in digital marketing, design, and content to its 20+ classroom centers in 16 cities, blending online and offline learning. MyCaptain will operate as a fully-owned subsidiary, and all 250 of its employees will join Imarticus, expanding the combined workforce to over 850. The move supports Imarticus’s goal to reach five million learners by FY28 and deepen its offerings in non-tech domains.

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