Fintech Avanti Finance raises US$ 26 million in Series A funding round led by Oikocredit and others
Social impact investor Oikocredit’s investment in Avanti Finance will help accelerate credit and other financial products to 100 million unserved and underserved households in India.
Indian fintech company Avanti Finance (Avanti) secured US$26 million in debt and equity from Oikocredit, Bill and Melinda Gates Foundation, Nomura and the family office of Pratul Shroff.
Avanti will use the funds to further invest in its digital tech platform and expand its cashless approach to help reach the unbanked across India. Avanti partners with a diverse set of organisations that have strong roots in local communities to offer loan products that are hyperlocal and focused on livelihood sustainability. Avanti understands that sustained impact on low-income households can be achieved through women's economic empowerment and currently, more than 75% of Avanti users are women.
Rahul Gupta, CEO at Avanti Finance, said, “We are delighted to welcome our investors in Avanti’s mission to create affordable financial services and expand financial inclusion across India. Our deep tech platform, combined with our partner ecosystem is designed for scalability and sustainability with a vision of empowering the next 100 million households.”
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