Arthan Finance, a leading lendingtech non-banking financial company (NBFC), has successfully raised INR 50 crore in Series B funding from prominent investors including Incofin India Progress Fund and the Michael and Susan Dell Foundation. With this latest infusion of capital, the Mumbai-based platform aims to bolster its expansion initiatives and enhance its technological capabilities.
Having raised a total of approximately INR 83 crore to date, Arthan Finance has garnered support from various stakeholders, including the Michael and Susan Dell Foundation, angel investors, and the company’s founders, in previous investment rounds. The fresh funding injection will enable Arthan Finance to amplify its Assets Under Management (AUM), broaden its geographic footprint, and invest in advanced artificial intelligence (AI) and machine learning (ML) based underwriting systems.
Kunal Mehta, Founder and Director of Arthan Finance, expressed the significance of this funding for the company’s growth trajectory, emphasizing their commitment to leveraging technology to extend financial inclusion to underserved micro and small enterprises across India.
Pravash Dash, Founder and Chief Executive Officer of Arthan Finance, highlighted the transformative potential of Incofin’s investment in driving tech-enabled and affordable credit solutions for underserved Indian MSMEs. He emphasized the alignment between Arthan’s vision and the extensive impact investing experience of its investors.
Arthan Finance boasts a presence across Telangana, Maharashtra, Odisha, and Andhra Pradesh, with more than 35 branches. The platform has disbursed over INR 500 crore to more than 20,000 borrowers, catering to an acutely underbanked population of more than 11 million nano enterprises. With its AI and ML-based underwriting systems, Arthan Finance ensures efficient risk discovery and loan disbursement, empowering small businesses and contributing to the future of India’s economic landscape.