Namdev Finvest Private Limited (Namdev), a pioneering Non-Banking Finance Company (NBFC) focused on MSME financial inclusion, has successfully completed its Pre Series – C investment round, and has raised USD 19 million. The investment was led by Maj Invest Financial Inclusion Fund III K/S, along with the participation from the Promoters Group and employees.
Jitendra Tanwar, Managing Director & CEO of Namdev, 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.”
Commenting on the investment, Siva Vadivelazhagan, Director at Maj Invest Financial Inclusion, remarked, “We are thrilled to be part of Namdev Finvest‘s journey towards advancing financial inclusion. Their dedication to serving small businesses and promoting green finance resonates strongly with our values. We’re eager to support their successful track record, leveraging tech-driven underwriting and a cost-effective liability model.”
Aditya Bhandari, Partner & Regional Director, Asia at Incofin Investment Management, highlighted, “Due to its secured nature of loan portfolio, deep impact thesis and professional management team, Namdev continues to attract significant private equity interest. We have a strong working relationship with Maj Invest and firmly trust their potential contribution in the growth journey of Namdev.”
