Namdev Finvest Private Limited (Namdev), a pioneering  Non-Banking Finance Company (NBFC) dedicated to MSME financial inclusion, is thrilled to  announce the successful closure of its Pre Series – C funding round, securing USD 19 million.  The investment round was led by Maj Invest Financial Inclusion Fund III K/S, with participation  from Promoters Group & Employees.

Established in 2013 by Jitendra Tanwar, a first-generation entrepreneur, Namdev has steadily  expanded its presence across seven North-Western Indian states. It focuses on delivering  financial solutions to underserved populations with low formal incomes and limited credit  history. The company’s commitment to social impact is reflected in its diverse portfolio,  featuring tailored business loans for Micro, Small, and Medium Enterprises (MSMEs), along  with innovative Green Finance options such as e-mobility and solar loans.

Expressing his gratitude and enthusiasm for this latest funding milestone, Jitendra Tanwar,  Managing Director & CEO of Namdev, stated, “This significant investment reflects the  confidence our investors have in Namdev’s mission of fostering financial inclusion. This round  of funding will help us to extend our reach into newly expanded rural geographies.”

Namdev has achieved remarkable operational and financial achievements, spanning its  footprint across seven states and cultivating a robust portfolio exceeding INR 1,120 crore (USD 140 million), supported by stable financials.

Commenting on the investment, Siva Vadivelazhagan, Director at Maj Invest Financial  Inclusion remarked, “We are thrilled to be part of Namdev Finvest’s journey towards  advancing financial inclusion. Their dedication to serving small businesses and  promoting green finance resonates strongly with our values. We’re eager to support  their successful track record, leveraging tech-driven underwriting and a cost-effective  liability model.”

Aditya Bhandari, Partner & Regional Director, Asia at Incofin Investment Management,  highlighted, “Due to its secured nature of loan portfolio, deep impact thesis and professional  management team, Namdev continues to attract significant private equity interest. We have  a strong working relationship with Maj Invest and firmly trust their potential contribution in  the growth journey of Namdev.”