Svasti Microfinance Pvt. Ltd has raised ₹310 million from Serum Institute of India chief executive Adar Poonawalla, Nordic Microfinance Initiative AS(NMI) and Rajiv Dadlani Group, the fintech startup said.
Svasti Microfinance was co-founded by Arunkumar Padmanabhan and Narayanan Subramaniam in 2010. The fintech claims to service around 187,500 customers across 63 branches spread over 4 states, aggregating a loan portfolio of around ₹4 billion. Svasti’s post pandemic collection efficiency has reached 94% and it expects both collections and disbursements to reach pre pandemic levels by the end of this financial year, according to the company.