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VCGuy
Stealthย โขย 4m
Peak XV is looking to participate in a $50 M funding round of Sarvagram, a rural credit startup. โฉTotal Funding: $51.1 M โฉInvestors include: Elevation Cap., Alteria, TVS Cap., Temasek ๐Did 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) ๐กHigh 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 โฉFounders 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.
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