Rural Lending Platform SarvaGram Secures USD 67 Mn to Expand Credit Offerings The Series D funding was led by Peak XV Partners, with support from Elevar Equity, Elevation Capital, Temasek, and TVS Capital, reaching INR 950 crore total funding.
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Pune-based rural-focused lending and distribution platform, SarvaGram, has raised INR 565 crore (approximately USD 67 million) in its Series D funding round, led by Peak XV Partners.
Existing investors, including Elevar Equity, Elevation Capital, Temasek, and TVS Capital, also participated in the round, bringing the startup's total funding to INR 950 crore (USD 113 million).
SarvaGram plans to use the newly raised capital to expand its credit product offerings across India, enhancing its reach among rural households.
"The fundraise will boost our mission of putting more power in the hands of rural households by enhancing their access and ease them into a curated set of financial and productivity-enhancing solutions," said Utpal Isser, Co-founder and CEO.
Founded in 2019 by seasoned bankers Utpal Isser and Sameer Mishra, SarvaGram provides loans for business, farming, personal needs, housing, and gold-backed financing. The company employs a data-driven platform to offer tailored financial solutions to rural and middle-income households, focusing on three key segments: farm, salaried, and micro and small enterprises (MSEs).
With operations across five states through 150 branches, SarvaGram has served over 100,000 customers, amassing INR 1,200 crore in assets under management, with 70% of its portfolio secured by property collateral.
Chinmaya Golecha, Principal, Peak XV, highlighted, "With over 25 years of experience each in serving the financial needs of rural, middle-income families in India, Utpal and Sameer have developed and scaled specialised products tailored for this segment. They are building SarvaGram with a unique, household-focused approach to bridge a critical gap in financial access."
SarvaGram also claims to partner with leading lenders like IDFC First Bank, AU Small Finance Bank, and Northern Arc, among others, to offer credit through SarvaGram Fincare. This funding round marks a significant milestone in its journey to empower rural India.
