Namdev Finvest Raises $38Mn To Expand Its Loan Book

MSME lender Namdev Finvest Pvt. Ltd. has raised $38 million in debt to expand its loan book from Developing World Markets (DWM), Swiss microfinance fund manager BlueOrchard, and US-based climate-focused fund Mirova.

DWM invested $8.25 million, while BlueOrchard Finance Ltd. provided $13 million through two funds—the BlueOrchard Microfinance Fund and the COVID-19 Emerging and Frontier Markets MSME Support Fund. Mirova, entering the Indian market for the first time, invested $10 million to support Namdev’s climate-focused lending strategy.

With this latest round, Namdev Finvest has raised over $79.5 million in total. The company has previously received funding from impact investors like the Belgian development fund Incofin, Lighthouse Canton Nueva Fund, British International Investment and Maj Invest.

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Jitendra Tanwar, Managing Director and CEO of Namdev Finvest, said "We deeply value the commitment from Mirova Investments to provide dedicated resources for climate-efficient financing. This comes at the right time, as we at Namdev Finvest are increasing our participation in climate-focused products."

Priyanka Mehrotra, Investment Director at Mirova, said "We see in Namdev Finvest's model the potential for a significant shift in the paradigm of responsible financing in India. Its thematic focus and unique market vision centred on the needs of MSMEs make it a key player in transforming the energy and mobility complexes that we are delighted to support. This is our first mobility investment, and we are confident in the wealth of opportunities that this territory presents."

About Namdev Finvest

Jaipur-based Namdev Finvest was founded in 2013 by Jitendra Tanwar, it is a MSME lender platform with a network of branches throughout Rajasthan, Gujarat and Punjab.

It manages assets worth around Rs 1,370 crore. The company provides financing to small businesses, individuals buying two-wheelers and entrepreneurs looking to operate e-rickshaws or set up solar panels for their livelihood.

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