Latest news with #ArunTiwari
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Business Standard
18 hours ago
- Business
- Business Standard
Gurugram-based Darwix AI raises $1.5 million to scale product, global reach
Darwix AI has raised $ 1.5 million (about Rs 13 crore) in funding from Rebalance, IPV, JITO Incubation and Innovation Foundation, Growth Sense, and angel investors. The Gurugram-headquartered firm looks to deploy the fresh funds towards product development, hiring, and market expansion, according to a company statement. "Our goal is to offer a unified, generative AI stack that not only understands but also elevates every customer interaction with actionable intelligence and automation. This fundraise gives us the fuel to double down on product innovation and expand our US footprint," Ajay Sethi, Co-founder of Darwix AI, said. Saswat Finance raised $ 2.6 million Fintech platform Saswat Finance has raised $ 2.6 million (about Rs 22 crore) in a pre-series A funding round led by Ankur Capital. The Mumbai-headquartered firm will use the capital to expand its tech capabilities, add new financial products to the platform, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh, according to a company statement. "At Saswat, we're blending tech and trust to deliver credit, risk protection, and productivity advisory services directly to customers' doorsteps. This new funding will empower us to advance our mission by investing in technology, deepening our reach, and aggressively scaling our operations," Arun Tiwari, CEO & Co-Founder of Saswat Finance, said.
Entrepreneur
a day ago
- Business
- Entrepreneur
Saswat Finance Raises USD 2.6 Mn Led by Ankur Capital to Scale Rural Fintech Infrastructure
The Mumbai-based startup aims to deploy the fresh funds to expand its technology infrastructure, launch new financial products, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Mumbai-based fintech startup Saswat Finance has raised USD 2.6 million in a pre-Series A round led by Ankur Capital, with Incubate Fund Asia doubling down on its earlier investment. The startup aims to deploy the fresh funds to expand its technology infrastructure, launch new financial products, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh. Founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat Finance is building a tech-first rural finance platform that leverages traditional and alternative data to unlock credit access for smallholder farmers and nano/micro enterprises. The company's proprietary platform enables efficient credit origination, digital collections, and insurance distribution, with early services focused on cattle loans, insurance, and para-veterinary support. It uses unique data inputs like milk production, cash flow trends, and geographic indicators to deliver more accurate risk assessments and tailored financial offerings. "This new funding will empower us to advance our mission by investing in technology, deepening our reach, and aggressively scaling our operations," said Arun Tiwari, CEO and Co-founder of Saswat Finance. "Saswat is uniquely positioned at the intersection of fintech, agritech, and insuretech to redefine access to financial services for underpenetrated segments." The startup claims to have already partnered with major players in the dairy cooperative ecosystem such as AMUL, Britannia, Schreiber Dynamix, and Hatsun, as well as insurers like Iffco Tokio and AIC, and lenders including RBL Bank and Ambit Finvest, to strengthen its distribution and product capabilities. Krishnan Neelakantan, Partner at Ankur Capital, remarked, "Saswat is addressing a critical market gap by using their tech platform and leveraging alternative data for delivering substantial value at the last mile." Rajeev Ranka, Partner at Incubate Fund Asia, added, "We are delighted to double down on our partnership with a team that combines strong financial services expertise with execution capability."
Time of India
a day ago
- Business
- Time of India
Fintech startup Saswat Finance raises $2.6 million from Ankur Capital, others
Rural India-focused fintech startup Saswat Finance has raised $2.6 million in a funding round led by early-stage investor Ankur Capital , with existing backer Incubate Fund Asia participating. The Mumbai-based startup will use the capital to expand its technology capabilities, roll out new financial products, scale operations across Maharashtra, Karnataka, and Uttar Pradesh, and strengthen its data and analytics infrastructure. 'India's rural economy holds immense potential. However systemic barriers like informal lending, inadequate documentation, and lack of efficient last-mile distribution have ensured that a large financial services opportunity is underserved,' said Arun Tiwari, CEO and cofounder of Saswat Finance. 'Saswat is uniquely positioned at the intersection of fintech, agritech , and insurtech to redefine access to financial services for underpenetrated segments.' Founded in 2022 by former bankers Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat aims to improve access to formal financial services in the rural economy, starting with the dairy supply sector. The company uses a data-driven approach to offer credit and insurance products tailored to smallholder farmers and rural enterprises. Saswat said its model is based on traditional and alternative data, from milk production and cash flows to weather and geography, to improve credit underwriting and enable faster delivery of financial products. The startup said it has enabled the disbursal of over Rs 55 crore in asset-backed loans and onboarded more than 6,000 customers to date. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories While Saswat currently offers cattle loans, insurance, and para-veterinary services, it is expanding into adjacent offerings for rural businesses. The fintech company has built partnerships with dairy cooperatives, including Amul, Britannia , Nandini, and Hatsun; insurers such as Iffco Tokio General Insurance and Agriculture Insurance Company; and lenders such as RBL Bank and Shivalik Small Finance Bank, to strengthen its distribution and product offerings. The funding comes at a time when fintech startups focused on financial inclusion have been seeking greater government support through equity infusions to expand access to financial services in underserved areas and upgrade their tech infrastructure, particularly in rural India . 'With the ongoing digital transformation of the dairy sector and other large supply chains as a tailwind, Saswat is addressing a critical gap in the market by using their tech platform and leveraging alternative data to deliver substantial value at the last mile,' said Krishnan Neelakantan, partner at Ankur Capital.
Indian Express
05-06-2025
- Politics
- Indian Express
Ex-MLA, Congress leader arrested for ‘derogatory comments' on PM Modi on social media
The Chhattisgarh Police have arrested a serving Congress leader and an ex-MLA for allegedly making 'objectionable' remarks about Prime Minister Narendra Modi on social media. The arrested people have been identified as Arun Tiwari, a 67-year-old ex-MLA formerly associated with the Congress, and Brijmohan Singh, a current Congress leader from Durg district. The arrests have been made in two separate cases. In the first case, Tiwari, a former MLA from Sipat in undivided Madhya Pradesh, was arrested for having made 'objectionable' remarks about the prime minister's estranged wife Jashodaben while speaking about 'Operation Sindoor' on social media. Tiwari, who is no longer with the Congress, was booked under sections section 296 (obscene act) and 352 (intentional insult) of the Bharatiya Nyaya Sanhita on the back of a complaint registered on June 2. 'Tiwari was produced before a magistrate court Wednesday and has been remanded to judicial custody. He will be in jail till he is granted bail,' a police officer said. In a similar but unrelated case, Congress leader Brijmohan Singh was arrested under sections 296 (obscene act) and 353 (public mischief) of the BNS for having posted 'abusive comments' on Modi on social media. He has been remanded in judicial custody. Reacting to the arrests, Sushil Anand Shukla, the communications head for the Congress in Chhattisgarh said: 'Arun Tiwari is no longer with the Congress party. Brijmohan ji is a good leader and I do not believe he can use such words. It is either a misunderstanding or it is a conspiracy by the BJP'. The development comes less than a month after Operation Sindoor — India's retaliatory strikes in Pakistan-occupied Kashmir and Pakistan in the aftermath of the April 22 Pahalgam attacks in which 26 people, including a resident of Chhattisgarh's Raipur, was killed.
Hindustan Times
04-06-2025
- General
- Hindustan Times
Chhattisgarh: 2 Congress leaders arrested for obscene posts on PM, Op Sindoor
RAIPUR: Two Chhattisgarh Congress leaders, including a former MLA, Arun Tiwari, were booked in two districts for allegedly posting objectionable content on social media targeting Prime Minister Narendra Modi and Operation Sindoor. Police said that Tiwari shared a Facebook post laced with objectionable language aimed at the Prime Minister and Operation Sindoor. The post triggered strong reactions from political and social groups, who lodged a formal complaint at the Civil Lines police station in Bilaspur, police said. 'Following the complaint, the Civil Lines police began a preliminary investigation under relevant sections of the IT Act and the Bhartiya Nyay Sanhita,' said Inspector General of Police, Bilaspur range, Sanjeev Shukla. Officials said that the allegations appeared to be prima facie valid during the inquiry. 'On Wednesday, a team from Ratanpur police station conducted a raid at Tiwari's farmhouse in Ratanpur and he was later handed over to the Civil Lines police for further legal action,' said the IG. The language of content posted was extremely objectionable, said the IG. In the second case, senior Congress leader Brijmohan Singh was booked in Durg. Based on a complaint filed by BJP leader Tushar Dewangan, an FIR was registered against Singh at the Vaishali Nagar police station in Bhilai. 'We investigated the matter based on the complaint. The allegations were found to be true, and an FIR was registered under relevant sections. The accused has been arrested, and further legal proceedings are underway,' said city superintendent of police, Satya Prakash Tiwari. According to police, they have been charged with sections 296 (obscene acts and songs in public places) and 353 (statements that conduce to public mischief) of the Bharatiya Nyaya Sanhita (BNS) and sections of the Information Technology Act.
