SarvaGram, an India-based rural FinTech company, has scored $35m in a Series C investment round.
The round saw participation from Elevar Equity, Temasek, Elevation Capital and TVS Capital Funds.
Founded 2019, SarvaGram offers customised financial and lending products to residents in rural India, which to date encompasses more than 80 million households, according to SarvaGram.
The company said that its tech solution takes a “360-degree view” of rural households to better understand their potential and risks.
Mridul Arora, a partner at Elevation Capital, said that SarvaGram has 2.8 billion rupees in assets under management and is ‘approaching profitability’.
According to Tech in Asia, SarvaGram operates out of eight hubs in the country, with over 50 outlets and 250 franchise partners covering over 8,000 villages in India.
The influx of newly raised capital will be used to increase the number of SarvaGram’s outlets to 125 by 2024, grow its on-ground franchisees, and improve its tech and data analytics capabilities.
Money View, an Indian FinTech company, has raised $75m in Series E funding, valuing the company at $900m.
According to a report from Deal Street Asia, the round was led by the UK-based asset manager Apis Partners.
Money View was co-founded by Puneet Agarwal and Sanjay Aggarwal in 2014. The company offers an online credit platform with a full suite of personalised credit products. Its features include personal loans, cards, BNPL and personal financial management solutions.
The company has partnered with over 15 financial institutions to offer credit and financial products on its platform.
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