PE-VC Fund Investments
Dugar Finance raises $5-M from HegdInvst
Chennai-based NBFC Dugar Finance has raised USD 5 million in a pre-series A funding round led by HegdInvst (founded by Chennai-based Aditya Bhandari , formerly a Partner with impact investment firm Incofin).Dugar Finance, led by Founder and Managing Director Ramesh Dugar, has historically focused on commercial and passenger vehicle finance and is now expanding into secured MSME lending to build a more balanced and diversified loan book. The company currently operates across six states and plans to expand to ten states over the next three years.Dugar Finance plans to use the new capital to scale its secured MSME lending franchise alongside its established vehicle finance business and to deepen its presence across semi-urban and rural markets. The capital will also be deployed across four key areas: strengthening technology infrastructure, advancing analytics-led underwriting and centralised risk systems, and hiring senior talent across critical functions.Dugar Finance had previously raised approximately USD 18 million in structured debt from domestic and international lenders, including Symbiotics and British International Investment (BII), along with multiple Indian banks.
In Jun 2025, Dugar Finance had attracted about USD 21 M in debt funding Symbiotics Group and others.For FY25, Dugar Finance had reported about INR 32 Cr in Operating Income and about INR 7 Cr in PAT.
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