Namdev Finvest Secures USD 38 Mn Debt Funding to Drive Sustainable Growth The fresh funds will enable Namdev Finvest to expand operations, serve underserved rural borrowers, and advance clean mobility and renewable energy initiatives, aligning with DFIs' goals of sustainability and inclusive financing.
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Jaipur-based Non-Banking Financial Company (NBFC), Namdev Finvest Private Limited, has announced the raising of USD 38 million in debt funding from renowned Development Finance Institutions (DFIs), including Developing World Markets (DWM), BlueOrchard-managed funds, and Mirova.
DWM invested USD 8.25 million, BlueOrchard provided USD 13 million through its Microfinance Fund and COVID-19 Emerging and Frontier Markets MSME Support Fund, and Mirova allocated USD 10 million through its Gigaton Fund, marking its Indian debut to support high-impact, renewable energy, and MSME-focused projects.
This funding round will help Namdev Finvest expand its operations, focusing on underserved and unbanked borrowers in rural and semi-urban areas. It will also bolster the company's initiatives in clean mobility and renewable energy, aligning with the DFIs' objectives to promote sustainability and inclusive financing.
The latest funding takes Namdev Finvest's total capital raised to over USD 79.5 million, following previous investments from impact-driven entities such as Incofin, Lighthouse Canton Nueva Fund, British International Investment, and Maj Invest.
Jitendra Tanwar, Managing Director and CEO of Namdev Finvest, said, "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, highlighted, "We see in Namdev Finvest's model the potential for a significant shift in the paradigm of responsible financing in India. Its thematic focus and unique market vision centred on the needs of MSMEs make it a key player in transforming the energy and mobility complexes that we are delighted to support. This is our first mobility investment, and we are confident in the wealth of opportunities that this territory presents."
Namdev Finvest has maintained a robust Asset-Liability Management (ALM) structure, ensuring financial resilience even during liquidity stress. Its portfolio includes secured MSME loans, vehicle loans, solar loans, and funding for women BIZ Experiencess.
Founded in 2013 by first-generation BIZ Experiences Jitendra Tanwar, Namdev Finvest operates across nine states with a loan portfolio of approximately INR 1,370 crore. The company's mission is to drive social and economic development while expanding its offerings in climate-efficient products, positioning itself as a pioneer in sustainable financing.
By addressing the needs of underserved communities and promoting sustainability, Namdev Finvest continues to lead the charge in transforming India's financial landscape.
