Indian fintech company Dhanvarsha Finvest raises $8.8m in funding round
Dhanvarsha Finvest, an Indian fintech company, has secured a capital infusion of INR658.3 million ($8.8 million) led by Aviator Emerging Market Fund (AEMF).
International investors such as Porter Collins and Vincent Daniel took part in the funding round alongside certain family offices and high net worth individuals.
Dhanvarsha Finvest has taken its net worth to more than INR1.6 billion ($21.39 million) with the latest funding.
Promoted by Wilson Group of Mumbai, Dhanvarsha Finvest is a technology enabled financial services company, which caters to micro small medium enterprise (MSME) entrepreneurs in India. The company offers various types of loans, which include loan against property, Atmanirbhar Bharat business loans, personal loans, and gold loans.
Farhana Ali Mohamed – Director at Aviator Emerging Market Fund said: “Our investment into Dhanvarsha is predicated on its strong origination and collections engine in the MSME space coupled with a best-in-class management team.
“Dhanvarsha’ s strong and unlevered balance sheet and highly granular loan book offers an attractive level of risk-adjusted returns.”
Aviator Emerging Market Fund had infused INR480.2 million into the Indian fintech company.
Rohanjeet Singh Juneja and Karan Neale Desai – Joint Managing Directors of Dhanvarsha Finvest said: “The entire management team is thrilled to have an investor like Aviator EMF who have faith in our vision of financial inclusion and sustainable development for small business entrepreneurs.
“It is a matter of great pride and honor to have celebrated investors like Porter Collins and Vincent Daniel and other high calibre executives such as Gaurav Mittal from Mastercard in Aviator EMF who believe in our execution. This investment is a testament to the unrelenting dedication of our promoter group and employees who have built this Company.”