India's InCred Group expands its footprint in the Middle East with Arrow Capital acquisition

Indian financial services firm InCred Group has acquired Arrow Capital, a boutique financial services firm based in Dubai, in a move aimed at strengthening its footprint in the Middle East and Africa. 

Founded in 2016, Arrow Capital is regulated by the Dubai Financial Services Authority and serves ultra-high-net-worth individuals, families, trusts and corporate entities with wealth management, investment advisory, corporate finance and asset management services.

Strengthening international reach

With this acquisition, InCred Group will expand its global capabilities across wealth management, investment banking and asset management. 

Following the acquisition, InCred Global Wealth, with offices in Dubai, Singapore, and London, will manage assets exceeding $2 billion.

The acquisition will integrate Arrow Capital into InCred's global operations, further strengthening its international presence in Dubai, alongside existing offices in Singapore and London.

The move is expected to accelerate InCred's growth trajectory across multiple business lines.

Leadership comments

Bhupinder Singh, Founder and CEO of InCred Group, 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."

Rohit Nanani, Founder and CEO of Arrow Capital, commented, "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."

Srikantan Selvamani, CEO of InCred Global Wealth Pte. Ltd. (Singapore), said, "The Middle East represents one of the fastest-growing wealth markets globally. I am excited to have Rohit lead and grow our existing efforts in the region, with a focus on expanding into new markets, attracting talent, and further broadening and deepening our platform, driving us towards our goal of being the most respected financial services firm in the region."

InCred’s diversified portfolio

InCred Group’s presence spans multiple financial services areas, including InCred Finance (a lending-focused non-banking financial company) and InCred Capital (an institutional, wealth and asset management platform).

The group also operates InCred Money for retail wealth tech investment distribution, InCred Global Wealth for independent advisory, InCred Premier as an investment platform and InCred Alternative Investments.

In 2023, InCred Finance became a unicorn after raising roughly Rs 500 crore (about $60 million) in a Series D funding round, valuing the group at more than $1 billion.