Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

SarvaGram grabs Rs 565 Cr in Series D funding led by Peak XV Partners

Rural credit startup SarvaGram has 150 branches across five states and over Rs 1,200 crore of loans in assets under management.

SarvaGram grabs Rs 565 Cr in Series D funding led by Peak XV Partners

Thursday November 14, 2024 , 2 min Read

Rural lending startup SarvaGram has raised Rs 565 crore in a Series D funding round led by Peak XV Partners as it looks to expand its credit business.

The round also witnessed participation from existing shareholders including Elevar Equity, Elevation Capital, Temasek, and TVS Capital.

This round takes the company's total funding to Rs 950 crore.

"The fundraise will boost our mission of putting more power in the hands of rural households by enhancing their access and ease them into a curated set of financial and productivity-enhancing solutions,” noted Utpal Isser, Co-founder and CEO, SarvaGram Solutions.

SarvaGram, which provides loan services, insurance products and farm mechanisation services to rural households, plans to use the funds to supplement its growth and profitability trajectory.

Also Read
Peak XV cuts largest fund by 16% as it slows growth-stage capital deployment

"With over 25 years of experience each in serving the financial needs of rural, middle-income families in India, Utpal and Sameer have developed and scaled specialised products tailored for this segment. They are building SarvaGram with a unique, household-focused approach to bridge a critical gap in financial access," highlighted  Chinmaya Golecha, Principal, Peak XV.

The Pune-based startup claims it has served over 100,000 customers across five states through 150 branches. It has amassed assets under management of about Rs 1,200 crore of loans, with over 70% of its portfolio being secured by property as collateral.

Founded in 2019 by veteran bankers Utpal Isser and Sameer Mishra, SarvaGram offers customised financial and capacity-enhancing solutions using its data-led platform for three key household segments—farm, salaried, and MSE households.

Avendus Capital was the exclusive financial advisor to SarvaGram in this transaction.


Edited by Kanishk Singh