Namdev Finvest, a Jaipur-based Non-Banking Financial Company (NBFC), has successfully raised INR 328 crore in debt funding from prominent global Development Finance Institutions (DFIs). This funding milestone reaffirms global confidence in Namdev Finvest’s mission to promote sustainable growth and empower underserved communities in India.
Namdev Finvest’s Funding – Breakdown of the Contribution
The funding round witnessed participation from leading DFIs, including Developing World Markets (DWM), BlueOrchard-managed funds, and Mirova. Here’s a breakdown of the contributions:
- Developing World Markets (DWM): Contributed USD 8.25 million, reinforcing its commitment to high-impact, socially transformative projects.
- BlueOrchard Finance: Sanctioned USD 13 million through two funds—the BlueOrchard Microfinance Fund and the COVID-19 Emerging and Frontier Markets MSME Support Fund.
- Mirova: Made its debut investment in India, contributing USD 10 million via its Gigaton Fund, which supports renewable energy transition projects globally.
Diversification and Climate-Focused Lending Initiatives
With this fresh infusion of capital, Namdev Finvest plans to diversify beyond traditional domestic bank and NBFC lending. The company aims to serve underserved and unbanked borrowers in rural and semi-urban areas with a focus on the following areas:
- Clean Mobility Projects: Financing electric vehicles, including e-rickshaws and two-wheelers.
- Renewable Energy Initiatives: Supporting solar panel installations for livelihood purposes.
- MSME Lending: Tailoring financial solutions to micro, small, and medium enterprises (MSMEs).
- Women Entrepreneurs: Offering specialized small business loans to empower women economically.
Leadership Perspectives on the Funding Milestone
Jitendra Tanwar, Managing Director and CEO of Namdev Finvest expressed gratitude for the investments, stating, “We deeply value the commitment from Mirova Investments to provide dedicated resources for climate-efficient financing. This comes at the right time, as we at Namdev Finvest are increasing our participation in climate-focused products.”
Priyanka Mehrotra, Investment Director at Mirova, added, “Namdev Finvest’s model has the potential to redefine responsible financing in India. Its thematic focus on MSMEs and innovative vision make it a key player in transforming the energy and mobility landscape. We are thrilled to support this, our first mobility investment in India, and are confident in the immense opportunities this market offers.”
Operational Excellence and Financial Stability
Since its founding in 2013, Namdev Finvest has showcased robust operational capabilities and financial resilience. As of January 2025, the NBFC operates in nine states, including Rajasthan and Gujarat, with a loan portfolio valued at approximately INR 1,370 crore in assets under management (AUM).
The company’s strategic approach to a balanced liability mix and cost structure ensures resilience even during periods of liquidity stress. Namdev Finvest’s strong Asset-Liability Management (ALM) framework reflects its commitment to sustainable growth and long-term impact.
Previous Funding Rounds and Growth Trajectory
Prior to this funding round, Namdev Finvest raised USD 19 million in April 2024 from notable investors such as Maj Invest, Belgian development fund Incofin, Lighthouse Canton Nueva Fund, and British International Investment. These investments enabled Namdev Finvest to achieve over 90% growth in FY 2024, with its net worth reaching INR 410 crore.
Driving Social and Economic Development
Namdev Finvest’s mission goes beyond profitability, prioritizing underserved borrowers, particularly those with dual income profiles and limited documentation. By financing clean mobility and renewable energy projects, the company aligns with global sustainability goals while contributing to India’s economic and social development.
Conclusion
Namdev Finvest’s funding of USD 38 million solidifies the company’s position as a leader in sustainable and inclusive financing. Backed by renowned DFIs, the company is poised to drive impactful change in rural and semi-urban India, fostering a brighter and more sustainable future.
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