PE-VC Fund Investments
Two-wheeler financier Berar Finance gets Rs.150-Cr from Abler Nordic, First Bridge; Amicus part exit
Nagpur-based non-banking financial company (NBFC) Berar Finance has raised INR 150 crore in a funding round led by Norwegian fund Abler Nordic and First Bridge India Growth Fund. Existing investor Amicus Capital Partners made a partial exit as part of this round.InteQuant Advisors acted as the exclusive financial advisor to Berar and its shareholders on this transaction.Founded in 1990 by Maroti Gendaru Jawanjar, Berar Finance enables access to funds for rural and semi-urban households, small entrepreneurs, farmers, and small traders.The fresh capital will be used to deepen Berar’s two-wheeler financing presence and expand its secured MSME (micro, small and medium enterprises) loan portfolio, a focus area for the company.
Between Jan 2020 and Mar 2022, Berar Finance had attracted about USD 23 M from Amicus Capital and Maj Invest.
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