Social VC Investments
MSME lender Namdev Finvest raises $38-M led by DWM, BlueOrchard
Namdev Finvest Pvt Ltd , a Jaipur-based lender to micro, small and medium enterprises (MSMEs). has raised USD 38 million in debt funding as it looks to expand its loan book.The funding round saw participation from private asset impact investor Developing World Markets (DWM), Swiss microfinance fund manager BlueOrchard, and US-based, climate-focused fund Mirova.BlueOrchard Finance Ltd sanctioned USD 13 million across two funds. Mirova, making its first foray into the Indian market, invested USD 10 million and DWM contributed USD 8.25 million to support Namdev’s climate-centric lending strategy.The lender, which operates in nine states, has a portfolio of about INR 1,370 crore in assets under management (AUM). It finances small businesses, individuals looking to buy two-wheelers, and entrepreneurs seeking to drive e-rickshaws or install solar panels for livelihood.The company has previously raised capital from impact investors, including Belgian development fund Incofin, Lighthouse Canton Nueva Fund, British International Investment, and Maj Invest.
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