Mumbai-based fintech startup Saswat Finance has secured $2.6 Mn (around INR 22.3 Cr) in a Pre-Series A funding round led by Ankur Capital, with participation from existing investor Incubate Fund Asia.
The startup plans to use the fresh capital to strengthen its tech stack, roll out new financial products, and scale up operations across Maharashtra, Karnataka and UP.
Additionally, the proceeds will be deployed to boost Saswat’s data and analytics infrastructure and expand its product portfolio.
The startup also said that Incubate Fund Asia has doubled down on its commitment to Saswat in this round.
Founded in 2022 by banking veterans Arun Tiwari, Indrajyoti Bhattacharjee and Ravi Ranjan Chaudhary, Saswat Finance is a fintech platform focused on delivering financial services to India’s smallholder farmers and nano/micro enterprises, particularly in rural areas.
The startup’s core mission is to bridge the financial gap in underserved markets, starting with the dairy sector (valued at $135.30 Bn in 2024 and projected to reach $274.09 Bn by 2032).
It offers cattle loans, insurance, and health support to rural farmers, along with guidance on finance and livestock care using data insights.
It has built strategic ties with a wide ecosystem that includes Dairy cooperatives such as AMUL (Maharashtra), Britannia, Shahaj & Srijini, Nandini, Schreiber Dynamix, Lactalis, and Hatsun.
“We’re uniquely positioned at the intersection of fintech, agritech, and insuretech to redefine access to financial services in underpenetrated segments,” said Saswat Finance’s cofounder and chief executive Arun Tiwari.
(The story will be updated soon.)
The post Saswat Nets $2.6 Mn For Financial Offerings To Micro Enterprises appeared first on Inc42 Media.
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