Fintech startup SarvaGram is dedicated to transforming rural credit access and lately has raised ₹565 crore in its Series D funding round. The investment was led by Peak XV Partners and other participations were from existing investors like Elevar Equity, Elevation Capital, Temasek and TVS Capital. The funding is another milestone for it and now the total capital raised is ₹950 crore.
The Pune-based SarvaGram was founded by Utpal Isser and Sameer Mishra in 2018. The startup stands out for its unique approach in addressing financial needs of rural and semi-urban households. It treats the household as a single economic unit and its innovative model recognizes complexity of rural incomes.
SarvaGram segments its customers into three categories namely salaried individuals, farmers and micro, small, and medium enterprises (MSMEs). Its offerings include gold loans, housing loans, personal loans, farm loans and consumer durable loans.
The fresh funding is to empower rural households further as co-founder and CEO Utpal Isser said that the investment is to help in expanding access to financial tools as well as resources. It is learned to enable rural families in achieving their aspirations. The primary goal of SarvaGram is to bridge the gap for households that are underbanked but creditworthy.
Rural India is changing rapidly equipped with households diversifying income sources and pursuing opportunities beyond traditional agriculture. SarvaGram has positioned itself as a key partner in the evolution. It caters to a wide range of economic activities. Its partnerships with lenders like IDFC First Bank, AU Small Finance Bank and Caspian Debt ensure the financial products reach even to the remotest areas.
The approach of SarvaGram is holistic and sets it apart.
