Arthan Finance Secures Rs 50 Crore Funding to Fuel Expansion and Technological Advancement

Arthan Finance Secures Rs 50 Crore Funding to Fuel Expansion and Technological Advancement

11th June 2024- Arthan Finance, a leading non-banking financial company (NBFC), has successfully raised Rs 50 crore ($6 million) in funding from prominent investors, including Incofin India Progress Fund and the Michael and Susan Dell Foundation. This latest infusion brings the total capital raised by Arthan Finance to Rs 83 crore ($10 million), with previous rounds witnessing participation from founders, angel investors, and the Michael & Susan Dell Foundation.

The newly acquired funds are earmarked for accelerating the firm’s expansion initiatives and enhancing technological capabilities. Arthan Finance aims to bolster its Assets Under Management (AUM), broaden its geographical presence, and invest in cutting-edge AI and ML-based underwriting systems, as outlined in a recent press release.

Founded by Kunal Mehta, Arthan Finance is a forward-looking lending tech NBFC specializing in providing loans to self-employed nano and micro entrepreneurs. Currently operational in Maharashtra, Odisha, Andhra Pradesh, and Telangana, the company focuses on extending growth capital to self-employed individuals in tier II, III, and IV cities.

With a track record of disbursing over Rs 500 crore to more than 20,000 borrowers, Arthan Finance caters to a diverse clientele, offering loan amounts ranging from Rs 2,000 to Rs 20 lakhs.

The latest funding round underscores the growing confidence of investors in Arthan Finance’s business model and potential for expansion. As the company continues to strengthen its foothold in the lending space, it is poised to play a significant role in fostering financial inclusion and empowerment among nano and micro entrepreneurs across India.

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