Latest news with #SaswatFinance
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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.
Economic Times
a day ago
- Business
- Economic Times
Fintech startup Saswat Finance raises $2.6 million from Ankur Capital, others
ETtech L-R: Indrajyoti Bhattacharjee, Ravi Ranjan Chaudhary, Arun Tiwari, Rahul Nischal, cofounders, Saswat Finance 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 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 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. While Saswat currently offers cattle loans, insurance, and para-veterinary services, it is expanding into adjacent offerings for rural 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.
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.
