Namdev Finvest Successfully Concludes $19M Pre-Series C Round Led by Maj Invest

Namdev Finvest Private Limited, a leading Non-Banking Financial Company (NBFC) based in Jaipur, has successfully concluded its Pre-Series C funding round, securing an impressive $19 million. This latest funding milestone comes just two months after the company raised $15 million in a Series B round.

Key Details:

• Funding Round Details: The Pre-Series C round was led by Maj Invest Financial Inclusion Fund III K/S, highlighting investor confidence in Namdev Finvest’s mission of fostering financial inclusion. The Promoters Group and employees also participated in the funding round.
• Expansion Goals: Jitendra Tanwar, Managing Director & CEO of Namdev Finvest, emphasized that this significant investment will facilitate the company’s expansion efforts, particularly into newly expanded rural geographies.
• Previous Funding: Earlier in January, Namdev Finvest concluded a Series B funding round, securing $15 million. This round saw participation from various stakeholders, including British International Investment (BII), LC Nueva AIF, promoters, employees, and existing investor Incofin India Progress Fund.

Company Background:

• Founded: Established in 2013 by Jitendra Tanwar, Namdev Finvest focuses on delivering financial solutions to underserved populations with low formal incomes and limited credit history.
• Portfolio: The company’s portfolio includes tailored business loans for Micro, Small, and Medium Enterprises (MSMEs), as well as innovative Green Finance options such as e-mobility and solar loans.
• Geographical Reach: With a network of over 100 branches in North-West India, Namdev Finvest has disbursed over 50,000 loans ranging from Rs 4-7 lakh. The company boasts an impressive Assets Under Management (AUM) exceeding Rs 1,000 crore.