The digital lending platform SarvaGram Solutions aims on lending to rural households generated $35 million in Series C. In this round the investors are Elevar Equity, Elevation Capital, Temasek and TCS. In the Series B it closed with $10 million.
The digital lending platform SarvaGram Solutions aims on lending to rural households generated $35 million in Series C. In this round the investors are Elevar Equity, Elevation Capital, Temasek and TCS. In the Series B it closed with $10 million.
The TVS Capital Funds, managing partner, Anuradha Ramachandran said, "We found the strong experience of the founders, the focus of SarvaGram on the underserved rural middle class households and the increasing availability of data which makes for better underwriting, a differentiated story".
The TVS Capital Funds, managing partner, Anuradha Ramachandran said, "We found the strong experience of the founders, the focus of SarvaGram on the underserved rural middle class households and the increasing availability of data which makes for better underwriting, a differentiated story".
SarvGram's Objective
SarvGram's Objective
SarvGram provides a range of customised financial and capacity boosting products for aspirational rural India. It has marked over 80 million households.
SarvGram provides a range of customised financial and capacity boosting products for aspirational rural India. It has marked over 80 million households.
Elevar Equity's managing director, Jyotsna Krishnan said,"SarvaGram is at the cusp of two critical trends. First, the inflection point in rural markets as demonstrated by growing economic activity and aspirations seen across rural households and second, leveraging the entry point of financial services for a truly data led broader distribution strategy. This round gives aligned growth capital to help the company execute to their scale ambitions".
Elevar Equity's managing director, Jyotsna Krishnan said,"SarvaGram is at the cusp of two critical trends. First, the inflection point in rural markets as demonstrated by growing economic activity and aspirations seen across rural households and second, leveraging the entry point of financial services for a truly data led broader distribution strategy. This round gives aligned growth capital to help the company execute to their scale ambitions".
SarvaGram Headquarter
SarvaGram Headquarter
The startup headquartered in Mumbai and currently opened eight hubs more than 50 outlets along four states. There are more than 250 franchise collaborated to cover 8,000 villages.
The startup headquartered in Mumbai and currently opened eight hubs more than 50 outlets along four states. There are more than 250 franchise collaborated to cover 8,000 villages.
SarvGram sets to expand its distribution network by adding 75 more outlets at the end of FY24. It plans to expand the on-ground franchises popular as 'SarvaMitra' in three times at the current strength along different states.
SarvGram sets to expand its distribution network by adding 75 more outlets at the end of FY24. It plans to expand the on-ground franchises popular as 'SarvaMitra' in three times at the current strength along different states.
The co-founder, MD, and CEO, Utpal Isser said," Having successfully executed our household-centric hypothesis across tens of thousands of rural households, we now understand our customers much better, the fundraise will boost our mission on putting more power in the hands of the rural households by enhancing the data analytics layer before growing our distribution and adding on-ground human capacity,"
The co-founder, MD, and CEO, Utpal Isser said," Having successfully executed our household-centric hypothesis across tens of thousands of rural households, we now understand our customers much better, the fundraise will boost our mission on putting more power in the hands of the rural households by enhancing the data analytics layer before growing our distribution and adding on-ground human capacity,"
The solutions contain high degree of de-risking like customization to fulfill the needs of the households like opposing to be restricted to a product selling pradign, that says about the high-touch, high-tech distribution platform leverages technology, with data science with highly nimble on-ground presence.
The solutions contain high degree of de-risking like customization to fulfill the needs of the households like opposing to be restricted to a product selling pradign, that says about the high-touch, high-tech distribution platform leverages technology, with data science with highly nimble on-ground presence.
In maximum rural houses, documentation has been non-standardized. There consecutively 150 million households strong rural market has underserved by banks and huge NVDCs with SarvaGram desires to address it
In maximum rural houses, documentation has been non-standardized. There consecutively 150 million households strong rural market has underserved by banks and huge NVDCs with SarvaGram desires to address it
Mridul Arora said, " We are impressed by the team's strong execution in a tough environment, scaling to Rs. 275 crore assets under managemen5t, while maintaining tight credit quality and approaching profitability
Mridul Arora said, " We are impressed by the team's strong execution in a tough environment, scaling to Rs. 275 crore assets under managemen5t, while maintaining tight credit quality and approaching profitability