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Avanti Finance secures $14.2 million in equity funding from Dia Vikas Capital and existing investors

Economic Times · 3m

Avanti Finance, a non-banking finance company focused on financial inclusion, has secured $14.2 million in equity funding. The funding comes from social investor Dia Vikas Capital and existing investors. Avanti Finance provides small-ticket income generation loans to micro enterprises and urban gig workers. The company aims to use the funding to increase its loan book, enhance its technology capabilities, and expand its customer channels. Despite facing an increase in gross bad loans, Avanti Finance remains hopeful for improvements in the microfinance sector in the coming quarters.