The Danish asset management firm Maj Invest led Namdev Finvest, an NBFC, in securing $19 million, or approximately INR 158.4 crore, in its pre-Series C investment round.
Current staff members and the company’s supporter group also took part in the financing round. With the additional funds, Namdev plans to increase its footprint in rural regions.
Read also – CrowdStrike and Rubrik Announce Strategic Partnership to Transform Data Security
Namdev founder, managing director and CEO Tanwar said, “This significant investment reflects the confidence our investors have in Namdev’s mission of fostering financial inclusion. This round of funding will help us to extend our reach into newly expanded rural geographies.”
Namdev Finvest provides loans for assets that generate revenue, improving borrowers’ quality of life and fostering financial discipline.
Recently Namdev has secured $15 million in its Series B fundraising round from LC Nueva AIF, British International Investment, and other investors.
Maj Invest’s director Siva Vadivelazhagan said, “Their (Namdev’s) dedication to serving small businesses and promoting green finance resonates strongly with our values. We’re eager to support their successful track record, leveraging tech-driven underwriting and a cost-effective liability model.”
About Namdev Finvest
founded in 2013 by Jitendra Tanwar, with a network of branches throughout Rajasthan, Gujarat, and Punjab with a main office in Jaipur. Namdev assists clients in semi-urban and rural areas in realising their aspirations of becoming entrepreneurs. The majority of Indians live in rural areas of India, known as Bharat, hence Namdev seeks to promote and provide possibilities for these enterprises.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
