Saswat Finance Raises $2.6 Mn In Pre-Series A Round Led By Ankur Capital

Fintech startup Saswat Finance has raised $2.6 million (around Rs 22.3 crore) in a Pre-Series A funding round led by Ankur Capital.

The round also saw participation from existing investor Incubate Fund Asia.

The startup will use the new funding to improve its technology, launch new financial products, and grow its operations in Maharashtra, Karnataka, and Uttar Pradesh.

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It also plans to strengthen its data and analytics systems and offer more products.

Incubate Fund Asia has increased its investment in Saswat in this round.

“India’s rural segments — over 65% of the population — are underserved by traditional financial services. At Saswat, we blend technology and trust to bring financial services directly to their doorstep. This funding will help us deepen our reach and scale operations,” said Arun Tiwari, CEO of Saswat Finance.

About Saswat Finance

Founded in 2022 by banking veterans Arun Tiwari, Indrajyoti Bhattacharjee and Ravi Ranjan Chaudhary, the Mumbai-based Saswat Finance uses its own technology and unique data—like milk production and location trends—to offer credit, insurance and advice to underserved communities more efficiently.

Saswat Finance aims to close the financial gap in underserved areas, starting with India’s dairy sector, which is valued at $135.30 Bn in 2024 and expected to grow to $274.09 Bn by 2032.

The startup provides rural farmers with cattle loans, insurance, health support, and expert advice on finance and livestock care—using smart data insights.

It has also partnered with major dairy networks like AMUL (Maharashtra), Britannia, Shahaj & Srijini, Nandini, Schreiber Dynamix, Lactalis, and Hatsun to strengthen its reach and impact.

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