Sarvagram Secures Rs 565 Crore Funding Round to Empower Rural India

Sarvagram, focusing on rural financial services, raised Rs 565 crore in a funding round led by Peak XV Partners. This increases its total capital to Rs 950 crore. The company, serving over 1 lakh customers, offers loans, insurance, and farm mechanization services to enhance rural households' access to financial solutions.

Sarvagram, a company dedicated to bolstering rural financial capabilities, announced on Thursday the completion of a Rs 565 crore funding round spearheaded by Peak XV Partners. This substantial investment signifies a pivotal moment for Sarvagram, elevating its total capital raised to an impressive Rs 950 crore.

The funding round witnessed significant participation from existing investors including Elevar Equity, Elevation Capital, Temasek, and TVS Capital. Sarvagram specializes in facilitating loans, offering insurance, and providing farm mechanization services, solidifying its role in transforming rural financial landscapes.

With over 1 lakh customers across five states serviced through 150 branches and a workforce exceeding 2,000 employees, Sarvagram has an impressive Rs 1,200 crore in loans under management, 70% of which are secured by property as collateral. Company executives express the fundraise will empower further advancement in rural households' financial health.

(With inputs from agencies.)