Namdev Finvest, a Non-Banking Finance Company (NBFC) that focusses on Micro, Small and Medium Enterprises (MSME) financial inclusion, has completed its Pre Series – C investment round, and has raised $19 million.
Jitendra Tanwar, Managing Director and Chief Executive Officer (CEO), Namdev Finvest, stated, “This significant investment reflects the confidence our investors have in Namdev’s mission of fostering financial inclusion. This round of funding will help us to extend our reach into newly expanded rural geographies.”
The investment was led by Maj Invest Financial Inclusion Fund III K/S, along with the participation from the promoters group and employees.
Commenting on the investment, Siva Vadivelazhagan, Director, Maj Invest Financial Inclusion, remarked, “We are thrilled to be part of Namdev Finvest‘s journey towards advancing financial inclusion. Their dedication to serve small businesses and promote green finance resonates with our values. We’re eager to support their successful track record, leveraging tech-driven underwriting and a cost-effective liability model.”
