PE Fund Investments
Impact lender Namdev Finvest attracts $15-M from BII, LC Nueva, Incofin India
Jaipur-based non-banking finance company (NBFC) Namdev Finvest has attracted USD 15 million in a Series B funding round co-led by British International Investment (BII), LC Nueva AIF (LC) and existing investor Incofin India Progress Fund.The company had previously raised USD 4.7 million in September 2021 and USD 7.5 million in October 2022.The proceeds from the new round will be used to expand its reach, enhance product diversification, and for technology enhancement.Founded in 2013 by Jitendra Tanwar, Namdev Finvest offers commercial vehicle loans, car loans, business loans, two-wheeler loans as well as gold loans to farmers and small entrepreneurs. Namdev Finvest claims to collaborate with over 40 lenders, including banks, international & domestic financial institutions. Namdev has branches in Rajasthan, Gujarat and Punjab.
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