India’s Namdev Finvest bags $38m in debt funding
By Gloria Mathias
Namdev Finvest, a Jaipur-based Non-Banking Financial Company (NBFC), has secured $38 million in debt funding from Development Finance Institutions (DFIs), including Developing World Markets (DWM), BlueOrchard-managed funds (BlueOrchard Microfinance Fund and COVID-19 Emerging and Frontier Markets MSME Support Fund), and Mirova.
This funding is a landmark achievement for Namdev Finvest as it expands its mission, which is to foster sustainable growth and drive impactful social and environmental initiatives. Notably, this marks Mirova’s first investment in India, signalling global confidence in Namdev Finvest’s vision and operational excellence.
The funds will enable Namdev Finvest to diversify its operations beyond traditional domestic bank and NBFC lending models, focusing on underserved and unbanked borrowers in rural and semi-urban markets. In addition to supporting clean mobility and renewable energy projects, the investment aligns Namdev Finvest’s efforts with the DFIs’ broader developmental objectives, ensuring a sustainable and inclusive approach to financing.
Jitendra Tanwar, Managing Director and CEO of Namdev Finvest said, “We deeply value the commitment from provInvestments’ commitment providing 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, remarked, “We see commented 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 resilience during liquidity stress periods while upholding its financial stability. The company’s strategic focus on maintaining a balanced liability mix and cost structure reflects its commitment to sustainable growth and long-term impact.
With a focus on serving unserved or underserved borrowers, particularly those with dual income profiles and limited documentation, Namdev Finvest is dedicated to driving social and economic development.
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