VC Fund Investments
MSME-focused Swara Fincare raises Rs.19.4 Cr led by Unitus Capital
Gurugram-based non-banking financial company (NBFC) Swara Fincare has raised INR 19.4 crore (USD 2.3 million) in a Series A round led by Unitus Capital’s UC Impower Fund. The round also saw participation from Piper Serica Angel Fund as well as Swara’s founders Dev Verma, Mukund Madhav and Sumit Ranjan.The funds will be used to promote financial inclusion for micro and small entrepreneurs, expand the firm’s distribution network, develop products, and enhance its technology platforms.Founded in 2022, Swara Fincare offers loans to micro and small entrepreneurs in Tier III and IV cities. It claims to have an offline presence through 45 branches across Uttar Pradesh, Haryana, Rajasthan, Bihar, and Uttarakhand.
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