Arthan Finance raises Rs 50 crore from Incofin, Dell Foundation
Arthan Finance has raised Rs 50 crore in equity from Incofin India Progress Fund and the Michael & Susan Dell Foundation as growth capital, the company announced Monday.
The Dell Foundation is a returning investor in the company. The fresh fund infusion will boost the company’s business expansion and technological progress, the company said.
“The funding is crucial for our next phase of growth. We are committed to enhancing our technological capabilities and expanding our reach to serve more micro and small enterprises in underserved regions," said Kunal Mehta, founder and director of Arthan Finance.
The company plans to expand its geographic footprint and invest in advanced AI and ML-based underwriting systems.
Arthan Finance currently operates in Maharashtra, Odisha, Andhra Pradesh and Telangana, providing growth capital to self-employed nano and micro enterprises in tier II, III, and IV cities. The company has disbursed over Rs 500 crore to more than 20,000 borrowers, with loan amounts ranging from Rs 2,000 to Rs 20 lakhs.
(You can now subscribe to our ETMarkets WhatsApp channel)
Read more on economictimes.indiatimes.com
