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As the digital lending sector limps back to normalcy after the double blow of the Chinese loan app scam and Covid, consolidation is afoot.
With well-funded growth stage lending companies looking to foray into newer areas of business, early stage startups operating in niche sectors are quickly becoming their acquisition targets.
Two sources in the know of things told The CapTable that Mumbai-headquartered non-banking lender InCred has acquired the India operations of Rain Instant Pay. Through the deal, InCred has managed to set foot in the early earned wage business.
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The CapTable brings a refreshing set of insights for us at the Blume team, highlighting stories that bring together the underlying business and founders with that of investors' journeys with these startups. It's an important perspective that very few bring to startup ecosystem enthusiasts.
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