Veritas Finance Pvt Ltd raised ₹240 crore in an internal funding round led by Lok Capital, Evolvence, and Avendus Future Leaders Fund to support its growth plans.

Sep 09, 2024•10 months ago

Amount Raised

₹2.4 Billion

ChennaiBankingLendingFintechFinance

Investors

Avendus Future Leaders FundEvolvenceLok Capital

Description

Veritas Finance Pvt Ltd announced the successful completion of a corporate funding round, raising ₹240 crore. The funds will aid in strengthening the company's foundation and providing a significant runway for future growth, potentially leading to an IPO in the next 12 months.

Company Information

Company

Veritas Finance Pvt Ltd

Location

Chennai, Tamil Nadu, India

About

Veritas Finance Pvt Ltd is a non-deposit taking Non-Banking Financial Company (NBFC) founded in 2015. The company focuses on providing finance to micro, small, and medium enterprises (MSMEs) in India, offering various financial solutions including short-term working capital, medium-term business loans, and long-term housing loans. With a robust loan book and substantial cumulative disbursement, Veritas Finance aims to strengthen its operational base. The company is considering an IPO to further augment its growth plans.

Funding Insights

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VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Veritas Finance Pvt Ltd raised ₹240 crore in an internal funding round led by Lok Capital, Evolvence, and Avendus Future Leaders Fund to support its growth plans.

Investors

Description

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