Jaipur-based non-banking finance company (NBFC) Namdev Finvest has successfully raised $37 million (approximately Rs 324 crore) through a mix of listed non-convertible debentures (NCDs) and external commercial borrowings (ECB).
The funding round saw participation from leading investors including FMO, IIX, Franklin Templeton AIF India, and Symbiotics, strengthening Namdev Finvest’s capacity to support micro, small, and medium enterprises (MSMEs) across rural and semi-urban India.
Key Investors and Contributions
Major Backers
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FMO (Dutch Entrepreneurial Development Bank): $20 million (~Rs 180 crore)
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Impact Investment Exchange (IIX) Women’s Livelihood Bond 7: $8 million (~Rs 71 crore)
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Franklin Templeton Alternative Investments Fund India: $2.3 million
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Symbiotics: $6.5 million
The participation of these investors underscores strong confidence in Namdev Finvest’s MSME lending model and its potential for growth in underserved markets.
Funding History
Namdev Finvest has consistently raised capital to fuel its lending operations:
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January 2024: $15 million Series B round co-led by British International Investment (BII), LC Nueva AIF, and existing investor Incofin India Progress Fund
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October 2022: $7.5 million
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September 2021: $4.7 million
This latest $37 million round marks a significant step in the company’s growth trajectory, enabling it to scale lending to MSMEs more aggressively.
Expansion Plans
Focus on Rural and Semi-Urban MSMEs
The funds raised will be used to expand Namdev Finvest’s MSME lending operations, targeting small businesses in rural and semi-urban areas. These businesses often face challenges in accessing credit, and the NBFC aims to bridge this gap by providing timely and structured financial support.
Strengthening Financial Inclusion
By expanding its reach, Namdev Finvest is also contributing to broader financial inclusion, enabling entrepreneurs and small business owners to access capital, grow operations, and create local employment opportunities.
Strategic Importance of Investors
Why This Round Matters
The involvement of impact-oriented investors such as FMO and IIX signals that Namdev Finvest’s model is not only commercially viable but also socially significant. Their participation highlights the potential to generate both financial returns and social impact by supporting rural and semi-urban MSMEs.
Looking Ahead
Scaling Operations and Deepening Impact
With fresh funding, Namdev Finvest is poised to increase its lending capacity and deepen its footprint in underserved markets. The NBFC plans to enhance credit products, improve operational efficiency, and leverage technology to better serve MSME clients.
This round reinforces Namdev Finvest’s position as a key player in India’s MSME financing ecosystem.
Final Thoughts
Namdev Finvest’s $37 million funding round marks a major milestone for the Jaipur-based NBFC. By expanding lending to rural and semi-urban MSMEs, the company is not only scaling its business but also empowering entrepreneurs who drive local economic growth.
The continued support from global investors reflects confidence in Namdev Finvest’s strategy, financial discipline, and ability to deliver impact at scale.
