Navadhan Secures ₹111 Crore in Oversubscribed Series-A Funding Round

Navadhan, which is a fintech startup working in rural spaces, has managed to raise ₹111 crore from its Series-A round of funding, which oversubscribed against its initial goal of ₹80 crore. The NabVentures led the round, with co-lead from Prime Ventures. LNB Group, Varanium NexGen Fintech Fund, Gemba Capital, Faad, VC-Grid, and Anicut are other participants. The capital will be employed to develop Navadhan's AceN tech platform, which enables working capital financing for rural small enterprises. The investment reflects the increasing focus on rural fintech solutions that seek to close financial gaps in India's rural economy.

 

Source: Business Standard, Business Wire India