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Rural-Focused Fintech Startup Navadhan Raises $1.5 Million In Funding

Jun 21, 2023•about 2 years ago

Amount Raised

$1.5 Million

Round Type

seed

MumbaiFinancial Services

Description

Rural India-focussed lender startup Navadhan has raised $1.5 million in a seed funding round led by Varanium NexGen, a fintech-focused fund. Existing investor Anicut Capital co-led the round, while Gemba Capital also participated.With their investment, Varanium NexGen and Gemba Capital are new additions to the four-year old startup’s cap table, per a statement. It has previously raised $14.5 million in both equity and debt across four rounds of investments from Anicut Capital, BOPA, Flowstate and angel investors.Powered ByVideo Player is loading.Play VideoPlaySkip BackwardUnmuteCurrent Time 0:00/Duration 51:58Loaded: 1.14%00:00Stream Type LIVESeek to live, currently behind liveLIVERemaining Time -51:58 1xPlayback RateChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedAudio Trackdefault, selectedPicture-in-PictureFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentText BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentTransparentCaption Area BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Advertisement“We will continue to invest in the AceN tech platform

Company Information

Company

Navadhan

Location

Mumbai, Maharashtra, India

About

Navadhan is a confluence of ‘Nava’ (new) and ‘dhan’ (wealth). We aim to ‘augment wealth creation’ for under-banked households by improving access to finance so that they can leverage their income generating opportunities. We intend to serve the missing middle between micro-finance and traditional SME lenders in India. Our innovative stage wise delivery of multiple credit products is aimed at meeting varied credit needs based on their cashflows - linked to seasonality and peculiarities of micro-markets.

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