Jaipur-based Namdev Finvest, a non-banking financial company (NBFC) which counts British International Investment (BII) among its investors, has tapped a clutch of offshore investors for debt capital.
The non-bank lender has raised nearly $37 million (around Rs 336 Crores) from the Dutch entrepreneurial development bank FMO, the Singapore-based impact investor Impact Investment Exchange (IIX), Franklin Templeton AIF India and the Switzerland-based private investment firm Symbiotics via listed non-convertible debentures (NCDs) and external commercial borrowing (ECB).
Namdev will utilise these funds to expand its MSME lending franchise across underserved and unbanked rural and semi-urban markets in India, the company said in a press note.
Specifically, Namdev has received $20 million from FMO, $8 million from IIX, $2.3 million from Franklin Templeton Alternative Investments Fund, India (Franklin Templeton AIF), and $6.5 million from Symbiotics.
“These partnerships enable us to scale responsibly, deepen our impact in rural and semi-urban India, and continue empowering MSMEs and women entrepreneurs with access to timely and affordable credit,” Jitendra Tanwar, managing director and chief executive officer, Namdev Finvest said in the note.
Founded by Tanwar in 2013, Namdev Finvest focusses on lending to micro, small and medium-sized enterprises(MSME). Apart from BII, the non-bank lender’s captable includes Incofin and Maj Invest.
In March 2025, the company raised $3 million (around Rs 25 crore) in a top-up round from existing shareholder LC Nueva AIF and the promoter group.
The Jaipur-based company’s asset under management rose to Rs 1,417 crore as on March 31 from Rs 1,181 crore a year ago.
Currently, around 90% of Namdev Finvest’s portfolio comprises secured MSME loans, whereas the remaining 10% is made up of two-wheeler loans and loans extended to green and renewable segments.
The company’s net profit rose to nearly Rs 41 crore in FY25 from Rs 21 crore a year ago, aided by a growth in the interest income. The interest income rose nearly 63% to Rs 317 crore in FY25, the company’s latest financial disclosure showed.
The gross non-performing asset (GNPA) ratio rose to 1.8% as on March 31 from 1.1% a year ago.