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Bengaluru-based non-banking financial company (NBFC) Avanti Finance has secured $14.2 Mn (around INR 120 Cr) in a funding round from Dia Vikas Capital, along with participation from existing investors IDH Farmfit Fund, NRJN Family Trust, Rabo Partnerships and select HNIs (High net worth individuals).
The NBFC plans to use the fresh capital to enhance its loan book, bolster deeptech capabilities for product innovation and expand across rural and urban regions.
Avanti Finance claims to have raised a total of $80 Mn in equity funding till date.
“We are delighted to have Dia Vikas Capital partner in Avanti’s journey to usher in a next-gen financial inclusion platform that is focused on creating sustainable livelihoods for the next 100 million households that are un/underserved,” said Rahul Gupta, CEO of Avanti Finance.
Set up in 2016 by former chairman of Tata Sons Ratan Tata, Infosys cofounder Nandan Nilekani and economist Vijay Kelkar, Avanti Finance has over 180 customised loan products to cater to different types of livelihood streams and income flows.
(The story will be updated soon)
The post NBFC Avanti Finance Nets $14.2 Mn To Expand Loan Book appeared first on Inc42 Media.
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