Financial services-focused InCred Group has acquired Dubai-based Arrow Capital to expand its operations in the Middle East.
Founded in 2016, boutique financial services firm Arrow Capital is regulated by the Dubai Financial Services Authority. It provides a wide range of services, such as wealth management, investment advisory, corporate finance, and asset management services, to ultra-high net worth individuals, families, trusts, and corporate entities.
In a press release, InCred said the strategic move will help it expand its global capabilities across wealth management, investment banking, and asset management, and also strengthen its presence in the Middle East and Africa. With the acquisition, InCred Global Wealth, a vertical of the company, will manage over $2 billion in assets across Dubai, Singapore, and London.
The acquisition is expected to accelerate InCred's growth trajectory across multiple business lines, it added. “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," Bhupinder Singh, founder and chief executive officer, InCred Group, said.
InCred Group houses various businesses such as non-banking financial company InCred Finance; institutional, wealth, and asset management platform InCred Capital; retail wealth-tech investment distribution vertical InCred Money; independent wealth advisory firm InCred Global Wealth; investment platform InCred Premier; and InCred Alternative Investments.
In 2023, InCred Finance entered the unicorn club, crossing $1 billion in valuation, when it raised Rs 500 crore (around $60 million) in its Series D round of funding.
