Arthan Finance, a Non-banking financial company (NBFC) has secured Rs 50 crore from investors such as Incofin India Progress Fund and the Michael and Susan Dell Foundation.

Till today’s date, Arthan Finance has secured Rs 83 crore. Previous funding rounds saw participation from the founders, angel investors, and the Michael & Susan Dell Foundation.    

As per the startup, the funding will be used to boost the firm’s expansion and technological progress. This will also help Arthan Finance grow its Assets Under Management (AUM), expand its geographic footprint, and invest in advanced Artificial Intelligence and Machine Learning-based underwriting systems.

Arthan Finance | Non-banking financial company

Founded by Kunal Mehta and Pravash Dash, Arthan Finance is a new age lending tech NBFC specializing in loans for self-employed nano and micro entrepreneurs. The firm as of now operates in Maharashtra, Odisha, Andhra Pradesh, and Telangana, providing growth capital to self-employed nano and micro enterprises in tier II, III, and IV cities. 

The company claims to have disbursed around Rs 500 crore to more than 20,000 borrowers, with loan amounts ranging from Rs 2,000 to Rs 20 lakhs.

Speaking about the development, Pravash Dash, Founder and CEO of Arthan Finance, said,

“Incofin’s investment will unlock transformative growth for Arthan Finance in bringing tech-enabled and affordable credit to underserved Indian MSMEs. Our investors’ extensive experience in impact investing aligns with Arthan’s vision and will help us capitalise on immense market opportunities to reshape the MSME lending landscape in India”.

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