Non-bank lender Ambit Finvest has successfully raised Rs 690 crore in a recent funding round. The investment, led by a prominent Japanese securities group Daiwa Securities Group and supported by existing investors, marks a significant milestone in Ambit Finvest’s journey.
Investment Details
Japanese Backing: Daiwa Securities Group, a longstanding partner of Ambit Group in various ventures, has invested Rs 415 crore in Ambit Finvest, acquiring a minority stake.
Existing Shareholders: The remaining Rs 275 crore was raised from existing shareholders, including the parent company.
Business Overview
Ambit Finvest specializes in providing secured and unsecured business loans, along with used vehicle loans, to micro, small, and medium-sized enterprises (MSMEs) across India.
Over the past two years, the company has focused on expanding its reach and investing in branches and technology to enhance its services.
Impact and Achievements
MSME Support: Ambit Finvest, classified as a systemically important non-banking financial company (NBFC), has assisted over 68,000 MSME owners by offering tailored business loans to meet their diverse needs.
Loan Disbursements: Since its establishment in 2018, Ambit Finvest has disbursed loans worth over Rs 6,000 crore and currently manages assets worth Rs 3,800 crore.
Geographical Presence: With a presence in 11 states through 165 branches and a workforce of 2,000 employees, Ambit Finvest is poised for further expansion.
Strategic Outlook
Ashok Wadhwa, the group chief executive officer of Ambit, expresses optimism about the NBFC’s future prospects, citing its imminent breakthrough in business trajectory.
He emphasizes Daiwa’s role as a long-term strategic investor, indicating a strong commitment to Ambit Finvest’s growth journey.
Quotes
“We see India as a strategically important country which is expected to experience high economic growth in the coming years,” states Seiji Nakata, President and CEO of Daiwa Securities Group.
Nakata highlights the potential for an expanded business operation in India, building upon the existing collaboration between Daiwa and Ambit in various financial ventures.
Conclusion
The substantial investment secured by Ambit Finvest reflects confidence in its business model and growth potential. With the backing of Daiwa Securities Group and continued support from existing investors,
Ambit Finvest is well-positioned to further its mission of empowering MSMEs and contributing to India’s economic growth.
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