Mahaveer Finance raises Rs 200 crore from Elevation Capital and others
Here’s the summarized information regarding Mahaveer Finance based on the provided details:
Company Overview
- Startup: Mahaveer Finance
- Founded: 1981
- Founders: Praveen Dugar and Deepak Dugar
- Location: Chennai, India
Funding Details
- Funding Amount: ₹200 crore
- Funding Round: First venture funding round
- Date of Funding: Not specified in the provided text.
Investors
- Elevation Capital (Lead investor)
- Banyan Tree Finance (Past investor)
- First Bridge Capital (Past investor)
Previous Fundraises
- Amount Raised Earlier: ₹75 crore over two rounds from Banyan Tree Finance and First Bridge Capital.
Business Focus
- Mahaveer Finance provides credit for used-commercial and passenger vehicles and plans to diversify into areas such as loan against property (LAP) and business loans.
- Current Operations: Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka.
Growth Metrics
- Loan Book Growth: From ₹50 crore to ₹1,000 crore (2016-2025); aiming for ₹5,000 crore within 2-3 years.
- Monthly Disbursement: Aiming to scale from ₹75-80 crore to ₹100 crore.
Financials (for FY24)
- Total Revenue: ₹136 crore
- Net Profit: ₹16 crore
This structured information encapsulates crucial aspects of Mahaveer Finance’s recent funding activities and operational goals.
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2025-06-19 00:30:00