Saarathi Finance, a non-banking financial company (NBFC), has closed its first round of funding, which totalled Rs 475 crore. TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and other angel investors contributed a total of approximately Rs 350 crore. The remainder was also instilled by Vivek Bansal and Sunil Daga. According to the Series A investment, Saarathi Finance is worth more than Rs 900 crore.
Saarathi Finance said in a press release that the capital infusion will help it achieve its goal of closing the sizable credit gap that MSMEs face, especially in underserved semi-urban and rural areas throughout Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Rajasthan, and Uttar Pradesh.
By combining technology-driven solutions with individualized customer service, Saarathi Finance provides secured and unsecured loans that are specifically designed to meet the needs of MSMEs. By focusing on quick loan processing and flexible income assessment, the company hopes to increase credit availability for business owners who have historically been disregarded by traditional financial institutions.
In semi-urban and rural India, Saarathi Finance concentrated on offering MSMEs easily accessible and customized credit solutions. It provides loans tailored to small business owners’ specific requirements by fusing technological innovation with in-depth knowledge of regional markets.
“We are committed to empowering Bharat’s entrepreneurs by providing more than just credit – a partnership that values and supports their growth. This funding milestone enables us to accelerate our mission, ensuring every stakeholder, from entrepreneurs to investors, is valued and cared for in our journey. With heartfelt gratitude to our stakeholders, friends, and family, we embark on this exciting journey,” said Vivek Bansal, founder & CEO of Saarathi Finance.
