Arthan Finance: Revolutionizing MSME Lending Landscape with INR 50 Crore Series B Funding
June 11, 2024, 9:30 am
Location: India, Maharashtra, Mumbai
Employees: 201-500
Founded date: 2018
Total raised: $8.39M
Arthan Finance, a pioneering non-banking financial company (NBFC) in the lendingtech sector, has recently secured a substantial INR 50 crore in Series B funding to propel its expansion and technological advancements. Founded in 2018 by the visionary Kunal Mehta, Arthan Finance has swiftly emerged as a beacon of hope for underserved markets, particularly micro and small enterprises (MSMEs), in India.
The recent infusion of funds from esteemed investors such as Incofin India Progress Fund and the Michael and Susan Dell Foundation marks a significant milestone in Arthan Finance's journey towards driving financial inclusion in the country. With a total of over INR 83 crore raised thus far, the company is well-positioned to bolster its Assets Under Management (AUM), broaden its geographical footprint, and enhance its capabilities through cutting-edge AI and ML-based underwriting systems.
Kunal Mehta, the dynamic Founder and Director of Arthan Finance, expressed the critical importance of this funding round for the company's next phase of growth. He emphasized the commitment to leveraging advanced technologies and expanding outreach to serve a larger number of micro and small enterprises, especially in underserved regions across India. The partnership with renowned investors like Incofin and the Michael and Susan Dell Foundation underscores Arthan Finance's unwavering mission to foster entrepreneurship and drive economic growth in the nation.
Arthan Finance's core focus lies in providing crucial financial support to small businesses and nano enterprises in Tier II, III, and IV cities, where access to credit is often limited. With a remarkable track record of disbursing over INR 500 crore to more than 20,000 borrowers, the company has been instrumental in empowering entrepreneurs and fueling economic development in these regions.
The company's AI and ML-based underwriting system stands as a testament to its commitment to efficiency and innovation in the lending space. By ensuring swift risk discovery and seamless loan disbursement processes, Arthan Finance caters to the needs of an estimated 11 million nano enterprises that have long been underserved by traditional banking institutions. This approach not only addresses a pressing market gap but also presents a significant opportunity for the future growth and prosperity of India's small business sector.
Pravash Dash, the esteemed Founder and Chief Executive Officer of Arthan Finance, highlighted the transformative potential of Incofin's investment in unlocking growth opportunities for the company. By focusing on delivering tech-enabled and affordable credit solutions to underserved Indian MSMEs, Arthan Finance aims to reshape the landscape of MSME lending in the country. The extensive experience of its investors in impact investing aligns seamlessly with Arthan's vision, paving the way for capitalizing on vast market opportunities and driving positive change in the sector.
With a robust presence across key regions such as Telangana, Maharashtra, Odisha, and Andhra Pradesh, Arthan Finance has established itself as a trusted partner for small businesses seeking financial assistance. The company's commitment to empowering entrepreneurs and fostering economic growth is further underscored by its strategic initiatives and partnerships with key stakeholders in the industry.
In conclusion, Arthan Finance's recent funding milestone not only signifies a significant step forward in its growth trajectory but also underscores the company's unwavering dedication to driving financial inclusion and economic empowerment in India. As it continues to expand its reach, enhance its technological capabilities, and serve the underserved MSME sector, Arthan Finance is poised to play a pivotal role in reshaping the future of small business lending in the country.
The recent infusion of funds from esteemed investors such as Incofin India Progress Fund and the Michael and Susan Dell Foundation marks a significant milestone in Arthan Finance's journey towards driving financial inclusion in the country. With a total of over INR 83 crore raised thus far, the company is well-positioned to bolster its Assets Under Management (AUM), broaden its geographical footprint, and enhance its capabilities through cutting-edge AI and ML-based underwriting systems.
Kunal Mehta, the dynamic Founder and Director of Arthan Finance, expressed the critical importance of this funding round for the company's next phase of growth. He emphasized the commitment to leveraging advanced technologies and expanding outreach to serve a larger number of micro and small enterprises, especially in underserved regions across India. The partnership with renowned investors like Incofin and the Michael and Susan Dell Foundation underscores Arthan Finance's unwavering mission to foster entrepreneurship and drive economic growth in the nation.
Arthan Finance's core focus lies in providing crucial financial support to small businesses and nano enterprises in Tier II, III, and IV cities, where access to credit is often limited. With a remarkable track record of disbursing over INR 500 crore to more than 20,000 borrowers, the company has been instrumental in empowering entrepreneurs and fueling economic development in these regions.
The company's AI and ML-based underwriting system stands as a testament to its commitment to efficiency and innovation in the lending space. By ensuring swift risk discovery and seamless loan disbursement processes, Arthan Finance caters to the needs of an estimated 11 million nano enterprises that have long been underserved by traditional banking institutions. This approach not only addresses a pressing market gap but also presents a significant opportunity for the future growth and prosperity of India's small business sector.
Pravash Dash, the esteemed Founder and Chief Executive Officer of Arthan Finance, highlighted the transformative potential of Incofin's investment in unlocking growth opportunities for the company. By focusing on delivering tech-enabled and affordable credit solutions to underserved Indian MSMEs, Arthan Finance aims to reshape the landscape of MSME lending in the country. The extensive experience of its investors in impact investing aligns seamlessly with Arthan's vision, paving the way for capitalizing on vast market opportunities and driving positive change in the sector.
With a robust presence across key regions such as Telangana, Maharashtra, Odisha, and Andhra Pradesh, Arthan Finance has established itself as a trusted partner for small businesses seeking financial assistance. The company's commitment to empowering entrepreneurs and fostering economic growth is further underscored by its strategic initiatives and partnerships with key stakeholders in the industry.
In conclusion, Arthan Finance's recent funding milestone not only signifies a significant step forward in its growth trajectory but also underscores the company's unwavering dedication to driving financial inclusion and economic empowerment in India. As it continues to expand its reach, enhance its technological capabilities, and serve the underserved MSME sector, Arthan Finance is poised to play a pivotal role in reshaping the future of small business lending in the country.