*Kunal Shah, Cred to invest $63 mn in NBFC as loan portfolio grows* Fintech unicorn Cred and its founder, Kunal Shah, have moved to invest Rs 550 crore ($63 million) in non-banking financial company Newtap Finance, which is scaling up its portfolio of unsecured loans. Shah owns 76% of the NBFC through Newtap Technologies and Cred the remaining 24%. Newtap Finance has already raised Rs 149 crore in equity funding from the two backers, and the plan for the fresh investment is awaiting regulatory approval. *Cred has reached assets under management, or a loan portfolio, of Rs 19,000 crore ($2.2 billion) as of December 2024.* https://www.thearcweb.com/article/kunal-shah-cred-nbfc-newtap-loan-profit-loss-6kUujf4MjHBNgso0