PE Fund Investments
MSME lender Finova Capital raises $135-M in Series E round
Jaipur-based fintech startup Finova Capital has raised USD 135 million in Series E round. The round saw participation of new investors ?Avataar Venture Partners?, ?Sofina?, ?Madison India Capital? along with existing investor ?Norwest Venture Partners. The new funds will be used for geographic expansion, increasing its loan book and investing in technology.Founded in 2015 by Mohit Sahney and Sunita Sahney, Finova Capital provides MSME business loans to urban and rural poor.
Between Sep-17 and Dec-22, Finova Capital had raised about USD 123.85 M from Faering Capital, Peak XV Partners, Maj Invest, Norwest, OthersFor FY24, Finova Capital had reported about INR 529 Cr in Operating Income and about INR 152 Cr in PAT.
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