InCred acquires Rain to launch Pronto

Pratik Bhakta

192 reads

Pratik Bhakta

192 reads

In the latest sign of consolidation in the digital lending space, InCred has acquired early salary access platform Rain for an undisclosed amount. The acquisition adds yet another finserv arrow to InCred’s quiver.

February 17, 2023

3 MINS READ

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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