SarvaGram Fincare raised Rs77 Cr Series B to tap rural lending opportunity
Rural lending startup SarvaGram Fincare raised Rs 77 Cr in a Series B funding round led by Elevation Capital. The round also saw participation from existing investor Elevar Equity, which had earlier led the company’s seed round worth Rs 25 Cr. The two companies together hold more than 50% stake in Sarvagram.
SarvaGram targets improving credit access to underserved households based in rural and semi-urban India. The company looks at households in need of loans for various purposes. SarvaGram’s credit products include loans for small businesses, farmers, housing, personal and gold.
The company is present in Gujarat and Maharashtra and will soon expand to Rajasthan and Karnataka too. By June-July of next year, SarvaGram plans to have 50 branches countrywide for an omnichannel approach.