PE-VC Fund Investments
Lender to MSMEs Namdev Finvest bags $37-M from FMO, IIX, Franklin Templeton, Symbiotics
Jaipur-based non-bank lender Namdev Finvest Pvt Ltd has raised USD 37 million in fresh debt funding to expand lending to small businesses in India’s rural and semi-urban markets. The funding was raised through a mix of listed non-convertible debentures and external commercial borrowings from a group that includes Dutch development bank FMO, Impact Investment Exchange (IIX), Franklin Templeton Alternative Investments Fund India and Switzerland-based Symbiotics.The latest round follows a USD 38 million debt raise in January 2025 from investors including Developing World Markets, BlueOrchard and Mirova. Namdev has also attracted equity backing from impact-focused investors such as British International Investment, Incofin and Maj Invest.Founded in 2013, Namdev Finvest focuses on secured lending to MSMEs (micro, small and medium enterprises) as well as financing for two-wheelers, electric rickshaws and rooftop solar installations, largely in smaller towns and rural districts. The company operates through more than 100 branches across nine states, primarily in northern and western India. The fresh capital would be used to expand its MSME lending franchise across underserved regions, with a focus on women-led enterprises and young entrepreneurs.
Between Sep 2021 and Jan 2025, Namdev Finvest had attracted about USD 77 M from British International Investment, Incofin, LC Nueva, Maj Invest, BlueOrchard, Developing World Markets and others.For FY24, Namdev Finvest had reported about INR 207 Cr in Operating Income and about INR 27 Cr in PAT. (Subscribers to the database can login to view the detailed financials.
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