Jaipur-based non-bank lender Namdev Finvest Pvt. Ltd. raised $37 million in fresh debt funding to expand lending to small businesses in India’s rural and semi-urban markets.The funding was raised through a mix of listed non-convertible debentures and external commercial borrowings from a group that includes Dutch development bank FMO, Impact Investment Exchange (IIX), Franklin Templeton Alternative Investments Fund India and Switzerland-based Symbiotics, the company said on Monday.“This has been a defining year for Namdev Finvest,” Managing Director and Chief Executive Officer Jitendra Tanwar said in a statement. “The trust placed in us by globally reputed institutions such as FMO, IIX, and Franklin Templeton is a strong endorsement of our governance, operating model, and long-term vision.”The latest round follows a $38 million debt raise in January 2025 from investors including Developing World Markets, BlueOrchard and Mirova.Namdev has also attracted equity backing from impact-focused investors such as British International Investment, Incofin and Maj Invest.Also ReadFrom a tractor salesman to running a multi-crore AUM NBFC—Jitendra Tanwar’s journey in impact lendingFounded in 2013, Namdev Finvest focuses on secured lending to MSMEs as well as financing for two-wheelers, electric rickshaws and rooftop solar installations. The company operates largely in smaller towns and rural districts, where… Read MoreYourStory RSS Feed
