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NBFC Namdev Finvest raises $37 Mn from FMO, IIX, others

EntrackrEntrackr · 2m ago
NBFC Namdev Finvest raises $37 Mn from FMO, IIX, others
Medial

Jaipur-based non-banking finance company (NBFC) Namdev Finvest has raised $37 million (approximately Rs 324 crore) through a combination of listed non-convertible debentures (NCDs) and external commercial borrowings (ECB). The round included participation from FMO, IIX, Franklin Templeton AIF India, and Symbiotics. FMO, the Dutch Entrepreneurial Development Bank, contributed $20 million (around Rs 180 crore), while Impact Investment Exchange's (IIX) Women's Livelihood Bond 7 (WLB7) invested $8 million (approximately Rs 71 crore). The company also raised $2.3 million from Franklin Templeton Alternative Investments Fund India (Franklin Templeton AIF) and $6.5 million from Symbiotics. Previously, Namdev Finvest raised $15 million in a Series B funding round in January 2024, co-led by British International Investment (BII), LC Nueva AIF, and existing investor Incofin India Progress Fund. It had earlier raised $4.7 million in September 2021 and $7.5 million in October 2022. The funds will be used to expand its MSME lending operations across rural and semi-urban markets in India, the company said in a press release. Founded in 2013 by Jitendra Tanwar, Namdev Finvest provides loans to MSMEs, vehicle owners, climate-friendly commuters, rooftop solar customers, and women entrepreneurs. The company works with public, private, and small finance banks, international financial institutions, and domestic lenders to diversify its funding sources. Namdev Finvest focuses on borrowers in Tier III and smaller cities across India. It operates in nine states. The company said it aims to improve access to credit, support employment generation, and contribute to financial inclusion. According to Namdev Finvest, the platform supports MSME lending with a focus on climate-aligned and green finance. It plans to expand its operations and support entrepreneurs across the country.

Swish raises $38 Mn led by Hara Global and Bain Capital Ventures

EntrackrEntrackr · 21d ago
Swish raises $38 Mn led by Hara Global and Bain Capital Ventures
Medial

Swish, a Bengaluru-based 10-minute food delivery startup, has raised $38 million in a funding round led by Hara Global and Bain Capital Ventures, with participation from existing investor Accel. The round also includes venture debt from Alteria Capital and Stride Ventures. According to Entrackr’s estimates, Swish’s valuation will jump over 2.4X to Rs 1,267 crore or around $140 million post-money. This is the third funding round for the company in a span of 16 months. Previously, the company raised $14 million from Hara Global Capital and Accel. Before that, it raised $2 million in seed capital in November 2024. The fresh proceeds will be used to support the expansion of its operations and to strengthen its quick delivery infrastructure. Founded in 2024, Swish operates a 10-minute food delivery model through a network of cloud kitchens located close to demand clusters. The company focuses on delivering meals within a limited radius to enable faster turnaround times. According to the company, daily order volumes have increased to approximately 20,000 from about 5,000 four months ago. Swish operates in the ultra-fast food delivery segment alongside larger players such as Zomato, Swiggy, and Zepto. The space has seen multiple rollbacks, with Swiggy shutting down its 10 to 15-minute delivery app Snacc within a year of launch, Zomato pausing its 15-minute service Quick soon after rollout, and Zepto scaling down its quick service vertical Zepto Café.

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