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Svasti offers Microfinance, MSME Loans, and Consumer Finance, including loans, EMIs for health insurance, consumer products, and bill payment services.
Basic Information
Mumbai-based Svasti Microfinance was founded Arunkumar Padmanabhan and Narayanan Subramanian. Svasti today services around 185,000 customers across 52 branches spread over 4 states, aggregating a loan portfolio of around Rs. 380 Crores. They offer MSME Loans for micro, small, and medium size businesses, and customised Consumer Finance that includes Bill Payment Services and EMI Schemes for essential consumer products. They have a very high concentration in Maharashtra as 75% of our loans originate from there. In November 2019, Svasti raised $10 million from existing investors, including Adar Poonawalla, the Patni family and Nordic Microfinance Initiative. By March 2021, Svasti plans to enter three more states in north and western India and aims to evenly split portfolio across existing geographies.
Legal Name
:
Svasti Microfinance Pvt. Ltd.
Headquarters
:
Mumbai, Maharashtra , India
Founding Date
:
2010
No. of Employees
:
501 to 1000
Core Team
:
1.  
Narayanan Subramaniam
Co-Founder, CFO & CIO
2.  
Arunkumar Padmanabhan
Co-founder & CEO
3.  
Narayan Bhaskar
Vice President
Funding

Total Funding

$15.8M

Investors
:
1.  
Adar Poonawalla
2.  
Bamboo Capital Partners
3.  
Michael & Susan Dell Foundation
4.  
Nordic Microfinance Initiative

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