Total amount raised
$115.9 Millions
Latest funding date
11/01/2024
Location
SarvaGram has successfully raised funds through multiple rounds, with the latest being a Series D round. The company offers a range of financial products, including gold loans, consumer durable loans, farm loans, and business loans, leveraging a data science-enabled platform.
Keep reading to explore the intricacies of SarvaGram's fundraising journey and the investors backing this innovative platform.
What Is SarvaGram?
SarvaGram, founded on January 1, 2018, by Sameer Mishra and Utpal Isser, is a fintech startup headquartered in Mumbai, Maharashtra, India. The company operates within the social entrepreneurship and financial services industries, focusing on providing financial and capacity-enhancing products for rural households.
With an employee count ranging from 501 to 1000, SarvaGram leverages a data science-enabled platform to offer various types of loans, including gold loans, consumer durable loans, farm loans, and business loans. The company aims to unlock the potential of rural households by viewing them as cohesive economic units and applying data-driven intelligence to assess their potential.
How Much Funding Has SarvaGram Raised?
- Seed Round
- Amount Raised: ₹250M (approximately $3.5M)
- Date: February 2020
- Lead Investors: Elevar Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and develop initial financial products for rural households.
- Series B
- Amount Raised: $10.5M
- Date: February 2021
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's reach and enhance its data science-enabled platform.
- Series C
- Amount Raised: $35M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and introduce new financial products.
- Series D
- Amount Raised: ₹5.7B (approximately $68.07M)
- Date: November 2024
- Lead Investors: Peak XV Partners
- Valuation at Round: Estimated between $170-200M
- Motivation Behind the Round: To enhance access to financial solutions for rural households and expand geographical presence.
Total Amount Raised: $117.07M
Current Valuation: Estimated between $170-200M
Key Investors
- Peak XV Partners
- Details: Peak XV Partners led the Series D funding round for SarvaGram. They are known for investing in high-growth potential startups, particularly in the digital and financial sectors.
- Investment Focus Areas: Technology, financial services, innovation.
- Notable Investments: Byju's, Swiggy, OYO.
- Elevar Equity
- Details: Elevar Equity is an existing investor in SarvaGram and participated in the Series D round. They focus on early-stage investments in companies that serve low-income communities.
- Investment Focus Areas: Financial inclusion, education, healthcare.
- Notable Investments: Ujjivan, Varthana, Madura Microfinance.
- Elevation Capital
- Details: Elevation Capital participated in the Series D funding round for SarvaGram. They invest in early-stage and growth-stage companies across various sectors.
- Investment Focus Areas: Technology, consumer services, financial services.
- Notable Investments: Paytm, UrbanClap, FirstCry.
- Temasek
- Details: Temasek is a global investment company that participated in SarvaGram's Series D round. They have a diverse portfolio, including financial services, telecommunications, and technology.
- Investment Focus Areas: Financial services, telecommunications, technology.
- Notable Investments: Alibaba, DBS Bank, Singapore Airlines.
- TVS Capital
- Details: TVS Capital is an existing investor in SarvaGram and participated in the Series D round. They typically invest in growth-stage companies across various sectors.
- Investment Focus Areas: Financial services, consumer, technology.
- Notable Investments: Nykaa, Go Digit General Insurance, RBL Bank.
What's Next for SarvaGram?
SarvaGram is poised to capitalize on significant opportunities by expanding its footprint within existing states and entering new markets. With the recent Series D funding, the company aims to enhance access to financial solutions tailored for rural households, including additional services like insurance and pay-per-use farm mechanization. This expansion could potentially attract further rounds of funding as the company demonstrates growth and success in its target markets.
However, SarvaGram may face challenges such as navigating regulatory requirements and managing risks associated with lending to underbanked populations. Competition from other digital lending platforms and traditional financial institutions also poses a challenge. Despite these hurdles, the company's focus on leveraging technology and broadening its range of financial products positions it well for future growth and investment opportunities.
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