NBFC company Namdev Finvest secures $37 mn from FMO, IIX, others

Non-bank lender Namdev Finvest has raised $37 million in fresh debt funding from FMO, IIX, Franklin Templeton AIF India and Symbiotics via listed NCD and ECB.

The latest funding comes after a $38 million debt raise in January 2025 from investors like Developing World Markets, BlueOrchard, and Mirova.

Namdev has also received equity investment from impact-focused investors, including British International Investment, Incofin, and Maj Invest.

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Namdev operates in 9 states and has developed a scalable, secure lending model with strong risk management and governance. The new funds will be used to grow Namdev’s MSME lending in underserved rural and semi-urban areas of India.

Jitendra Tanwar, Managing Director & CEO, Namdev Finvest Pvt. Ltd., said “This has been a defining year for Namdev Finvest. The trust placed in us by globally reputed institutions such as FMO, IIX, and Franklin Templeton is a strong endorsement of our governance, operating model, and long-term vision.”

“At FMO, we believe that financial inclusion is a cornerstone for reducing inequalities and driving sustainable economic growth,” Juan Jose Dada Ortiz, director for financial institutions at FMO, said. “Our $20 million investment in Namdev Finvest will enable thousands of micro and small entrepreneurs particularly women-led and rural businesses to access the credit they need to thrive.”

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Founded in 2013, Jaipur-based Namdev Finvest focuses on secured loans for MSMEs, as well as financing for two-wheelers, electric rickshaws, and rooftop solar projects. The company mainly serves smaller towns and rural districts, where formal credit access is limited and many borrowers do not have traditional credit histories.

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