Mahaveer Finance raises Rs 200 Cr led by Elevation Capital

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Here’s a structured breakdown of the information provided:

Investment Details

  • Startup: Mahaveer Finance
  • Founded by: Praveen Dugar
  • Funding Raised: ₹200 crore (~$23.1 million)
  • Funding Series: Equity funding round
  • Date of Fundraise: (Not specified in the text)

Investors

  1. Lead Investor: Elevation Capital
  2. Participating Investors:
    • Banyan Tree Finance
    • First Bridge Capital

Previous Fundraises

  • Amount Raised: ₹75 crore (~$9 million)
  • Rounds: Two earlier rounds from Banyan Tree and First Bridge

Use of Proceeds

  • Enhancing governance structure
  • Investing in technology
  • Scaling operations

Company Overview

  • Business Focus: Credit for used commercial and passenger vehicles, plans to diversify into loan against property (LAP).
  • Growth: Loan book growth from ₹50 crore in 2016 to ₹1,000 crore by 2025, with a target of ₹5,000 crore.
  • Monthly Disbursement: ₹75–80 crore, targeting ₹100 crore by FY25.
  • Financials (FY24):
    • Revenue: ₹136 crore
    • Net Profit: ₹16 crore

Operational Areas

  • Regions: Tamil Nadu, Andhra Pradesh, Telangana, Karnataka
  • Number of Branches: 80, expected to cross 100 by year-end.

Future Plans

  • Business loans via branch-led model, average ticket sizes of ₹10–15 lakh.

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2025-06-19 05:20:28