Inclusive Finance Startup Navadhan Raises $1.5 Mn In funding

Navadhan Capital, a Mumbai-based fintech startup, has successfully raised $1.5 million in a seed funding round. The funding was led by Varanium NexGen, a fintech-focused fund, and included participation from existing investor Anicut Capital. Gemba Capital also contributed to the funding, as stated in a press release via BusinessWire.

Navadhan Capital adopts a digital-first approach to provide inclusive finance solutions to small-holder farmers and small businesses in India. The company plans to utilize the newly raised funds to further develop its AceN Tech Platform, which connects rural small businesses (MSMEs) with NBFCs and banks. With partnerships established with 15 lenders such as Ugro, Vivriti, Northern Arc, Caspian, Unitus, and TruCap, Navadhan Capital has already served over 200,000 customers and disbursed over Rs. 100 crore.

Founded in 2019 by Nitin Agrawal, Vijay Haswani, Anirudh Ramakuru, and Amit Biswal, Navadhan had previously secured pre-seed funding of $1.37 million in March 2021 from Anicut, Sarah Djari, and others. This was followed by an undisclosed equity funding round from BOPA (Base of Pyramid Asia) in November of the same year. Notable angel investors in Navadhan Capital include Prasanna Rao (Arya.ag) and Sarah Djari (Impact Fintech PE).

With a cumulative funding of $16 million in equity and debt lines, partnering with NBFCs, Navadhan continues to make significant strides in its mission to empower underserved communities through accessible financial services.

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