InCred Group, a diversified financial services firm, has announced the acquisition of Dubai-based boutique financial services firm Arrow Capital (DIFC).
The financial terms of the deal were not revealed.
The deal is said to mark a significant expansion for InCred. It will help the firm strengthen its wealth management, investment banking, and asset management capabilities in the Middle East and Africa.
Established in 2016, Arrow Capital is regulated by the Dubai Financial Services Authority (DFSA). The company provides services to ultra-high-net-worth individuals, families, trusts, and corporate entities globally.
Its offerings include wealth management, investment advisory, corporate finance, and asset management, which are said to align with InCred’s strategy to enhance its global financial solutions.
Following the transaction, InCred Global Wealth, which operates offices in Dubai, Singapore, and London, will oversee assets of more than $2bn.
Furthermore, the integration of Arrow Capital is expected to accelerate InCred’s international expansion and growth across multiple business verticals.
Arrow Capital founder and CEO Rohit Nanani said: “Joining forces with InCred presents an exciting opportunity to leverage our combined strengths and offer an even more robust suite of services to our clients.
“InCred’s innovative approach and Arrow’s expertise across multiple financial domains create a powerful synergy that will drive growth and deliver exceptional value to our clients.”
Headquartered in Mumbai, India, InCred operates through three key divisions, namely InCred Finance, InCred Capital, and InCred Money.
InCred Finance is a lending-focused non-banking financial company (NBFC) while the capital division provides institutional, wealth, and asset management services.
InCred Money is a digital investment distribution platform targeting mass-affluent and retail investors.
InCred founder and CEO Bhupinder Singh said: “The acquisition of Arrow Capital marks a significant milestone in InCred’s journey toward becoming a global leader in diversified financial services.
“Arrow’s deep understanding of the Middle Eastern and African markets, combined with its strong client relationships and broad service offerings, will significantly enhance our ability to serve the sophisticated needs of clients across various segments.”
