Namdev Finvest Private Limited, a prominent Non-Banking Finance Company (NBFC) dedicated to fostering financial inclusion among MSMEs, has successfully concluded its Pre-Series C funding round, raising USD 19 million. The investment was spearheaded by Maj Invest Financial Inclusion Fund III K/S, with participation from the Promoters Group and employees.
Established by Jitendra Tanwar in 2013, Namdev Finvest focuses on providing tailored financial solutions to underserved populations across seven North-Western Indian states. The company specializes in offering business loans to micro, small, and medium enterprises (MSMEs), alongside innovative green finance options like e-mobility and solar loans.
“This significant investment underscores the confidence our investors have in Namdev’s mission of advancing financial inclusion,” remarked Jitendra Tanwar, Managing Director & CEO of Namdev Finvest. “The funds raised will enable us to expand into newly identified rural geographies, furthering our commitment to empowering MSMEs with accessible financial solutions.”
Maj Invest Financial Inclusion Fund III K/S expressed enthusiasm about supporting Namdev Finvest’s growth trajectory. Siva Vadivelazhagan, Director at Maj Invest Financial Inclusion, emphasized, “We are thrilled to join Namdev Finvest on its journey towards enhancing financial inclusion. Their focus on leveraging technology-driven underwriting and sustainable finance aligns perfectly with our investment philosophy.”
Aditya Bhandari, Partner & Regional Director, Asia at Incofin Investment Management, highlighted Namdev’s secured loan portfolio and robust management team as key factors attracting significant private equity interest. “Namdev’s deep impact thesis and professional approach position it strongly for continued growth,” he affirmed.
With a portfolio exceeding INR 1,120 crore ($140 million), Namdev Finvest has achieved substantial operational milestones, consolidating its footprint and financial stability in the sector.
The fresh infusion of capital will support Namdev Finvest’s strategic initiatives to broaden its market reach, enhance service offerings, and reinforce its position as a leader in MSME finance and green finance innovation in India.