Spark Capital successfully advised Namdev Finvest for its equity fund raise in January 2024 aggregating ~INR 1.2 Bn.

Namdev Finvest ("Namdev"), offers small business loans and innovative green finance options to underserved MSMEs focused on tier III & IV locations. Established in 2013 by Jitendra Tanwar, Namdev has steadily expanded its footprint across seven north-west Indian states, focusing on providing financial solutions to the underserved segment with low formal incomes and limited credit history. Namdev has demonstrated strong growth of 70% in the last 3 years along with best-in-class asset quality metrics. It has an outstanding loan book of over INR 10 Bn and aims to touch 100,000 lives by March 2025.

The equity round saw participation from British International Investment (BII), LC Nueva Capital, Incofin India Progress Fund, employees and the founder.

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