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Post on Medial

2024-10-14T14:01:37.558Z

Peak XV is looking to participate in a $50 M funding round of Sarvagram, a rural credit startup. ⏩Total Funding: $51.1 M ⏩Investors include: Elevation Cap., Alteria, TVS Cap., Temasek 📄Did a bit of research around Sarvagram - - Focuses on offering credit to semi-urban, rural households (underbanked but creditworthy people) - Offers a range of loans: Farm, Gold, Housing, Personal. Also provides pay-per-use farm rental equipment - Sarvagram USP: Treats the household as one economic unit, unlike banks and NBFCs that usually assess only individual repayment capacity - Uses a data-driven intelligence platform to assess credit-worthiness of a household - Sarvagram achieves a collection efficiency of 98%+ (as per elevation's inv. memo) 💡High consumer trust is a must when handling money matters - - Sarvagram has developed an in-house pincode level index to assess credit-worthiness and repayment capacity - They set up central outlets and expand through village-level franchises(sarvamitras) to deepen their reach ⏩Founders Utpal and Sameer are seasoned banking veterans --> Utpal led rural banking at ICICI Bank, while Sameer headed rural units at Fullerton. Sarvagram will likely reach a valuation of ~$200 M post this fundraise.

Shuvodip Ray
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India's space sector has witnessed a remarkable growth in the number of startups, increasing from just one in 2014 to nearly 200 by 2024. This surge is attributed to government reforms and increased private investment. By the end of 2023, approximate

Anonymous 1

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Great sector to focus at for the next few decades 💯

0 replies

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