Total amount raised
$115.9 Million
Latest funding date
11/01/2024
Location
SarvaGram has successfully raised funding through four rounds, with notable investors including Temasek Holdings, Elevation Capital, and Peak XV Partners. The company focuses on providing financial and capacity-enhancing products tailored for rural households.
Keep reading to explore the intricacies of SarvaGram's fundraising journey and the investors backing this innovative platform.
What Is SarvaGram?
SarvaGram, founded in Mumbai, Maharashtra, India, is a fintech startup that provides financial and capacity-enhancing products tailored for rural households. The company operates within the financial services and farm services industries, aiming to unlock the potential of rural India.
With a significant employee base ranging from 501 to 1000 employees, SarvaGram has made a notable impact by serving over 150,000 households, establishing over 170 shoppes, and covering over 38,000 villages. The company offers a range of loans, farm equipment services, and insurance plans, emphasizing a data-driven approach and human delivery of services.
How Much Funding Has SarvaGram Raised?
- Seed Round
- Amount Raised: $3.5 million
- Date: February 2020
- Lead Investors: Elevar Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial financial products for rural households.
- Series B
- Amount Raised: $10.5 million
- Date: February 2021
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the range of financial services and increase market penetration.
- Series C
- Amount Raised: $35 million
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series D
- Amount Raised: $68.07 million
- Date: November 2024
- Lead Investors: Peak XV Partners
- Valuation at Round: $170-200 million
- Motivation Behind the Round: To enhance access to financial solutions and expand operational footprint.
Total Amount Raised: $117.07 million
Current Valuation: $170-200 million
Key Investors
- Peak XV Partners
- Details: Peak XV Partners is a prominent venture capital firm known for investing in technology and consumer sectors. They led SarvaGram's Series D funding round.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Flipkart, Ola, Swiggy
- Elevation Capital
- Details: Elevation Capital is a leading investment firm focusing on early-stage and growth-stage companies. They participated in SarvaGram's Series B, C, and D funding rounds.
- Investment Focus Areas: Technology, Consumer, Financial Services
- Notable Investments: Paytm, UrbanClap, FirstCry
- Elevar Equity
- Details: Elevar Equity is an impact investment firm targeting underserved markets. They led SarvaGram's Seed round and participated in subsequent rounds.
- Investment Focus Areas: Financial Inclusion, Education, Healthcare
- Notable Investments: Ujjivan, Madura Microfinance, Varthana
- Temasek
- Details: Temasek is a global investment company headquartered in Singapore. They participated in SarvaGram's Series D funding round.
- Investment Focus Areas: Financial Services, Telecommunications, Media & Technology
- Notable Investments: Alibaba, Airbnb, Ant Financial
- TVS Capital
- Details: TVS Capital is an investment firm focused on building valuable businesses in India. They participated in SarvaGram's Series D funding round.
- Investment Focus Areas: Financial Services, Consumer, Technology
- Notable Investments: Nykaa, Go Digit, RBL Bank
What's Next for SarvaGram?
With the recent infusion of Rs 565 crore, SarvaGram is poised to expand its footprint across India, enhancing access to financial solutions for rural households. The company plans to leverage this capital to offer a broader range of products, including insurance and farm mechanization services, addressing the multifaceted needs of its customers.
Future fundraising opportunities appear promising, given the strong investor interest and the company's growth trajectory. SarvaGram may attract additional rounds of funding to support further expansion and product development, potentially forming strategic partnerships to enhance its service offerings.
However, challenges such as navigating regulatory requirements, managing risks associated with lending to underbanked populations, and competition from other fintech and traditional financial institutions could pose hurdles. Despite these challenges, SarvaGram's focus on financial inclusion and its innovative approach position it well for continued growth and success.
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