Jaipur-based Non-Banking Financial Company (NBFC), Namdev Finvest Private Limited, has successfully raised $38 million in debt funding from prominent Development Finance Institutions (DFIs). Key participants include Developing World Markets (DWM), BlueOrchard-managed funds (BlueOrchard Microfinance Fund and COVID-19 Emerging and Frontier Markets MSME Support Fund), and Mirova, marking a significant milestone in the company’s journey toward inclusive and sustainable financing.
Notably, this funding includes Mirova’s first-ever investment in India, underscoring global confidence in Namdev Finvest’s vision and operational excellence.
Driving Growth with Strategic Funding
The funding will enable Namdev Finvest to diversify its operations and expand its focus beyond traditional lending models. Key objectives include:
- Serving underserved and unbanked borrowers in rural and semi-urban markets.
- Supporting clean mobility and renewable energy projects to align with global sustainability goals.
This approach reinforces Namdev Finvest’s commitment to driving social and economic development while contributing to a sustainable financial ecosystem.
Breakdown of Investments
- Developing World Markets (DWM):
- Contribution: $8.25 million
- Focus: Supporting high-impact projects across emerging markets and reinforcing Namdev Finvest’s growth strategy.
- BlueOrchard Finance:
- Contribution: $13 million
- Funds: BlueOrchard Microfinance Fund and COVID-19 Emerging and Frontier Markets MSME Support Fund.
- Objective: Backing initiatives to empower underserved borrowers and MSMEs in India.
- Mirova:
- Contribution: $10 million
- Fund: Gigaton Fund, focusing on renewable energy transition projects.
- Milestone: Mirova’s first investment in India, emphasizing its trust in Namdev Finvest’s climate-efficient financing model.
Voices of Leadership
Jitendra Tanwar, Managing Director and CEO of Namdev Finvest, expressed gratitude for the support:
“We deeply value Mirova Investments’ commitment to providing resources for climate-efficient financing. This comes at a critical time as we scale our participation in climate-focused products.”
Priyanka Mehrotra, Investment Director at Mirova, highlighted Namdev Finvest’s potential:
“Namdev Finvest’s model offers a significant opportunity to redefine responsible financing in India. Its focus on MSMEs and climate-centric initiatives makes it a transformative player in the energy and mobility sectors. We are thrilled to support this vision with our first mobility investment in India.”
A Focus on Financial Inclusion
Namdev Finvest has built a reputation for addressing the needs of unserved and underserved borrowers, particularly those with dual income profiles and limited documentation. The company’s approach prioritizes accessibility, ensuring that rural and semi-urban populations have access to financing that drives economic and social progress.
By channeling resources into climate-efficient products and promoting clean mobility and renewable energy, Namdev Finvest is aligning its efforts with both national and global sustainability goals.