Namdev Finvest Private Limited - Comprehensive Analysis Report

Summary

Namdev Finvest Private Limited is a Jaipur, India-based non-banking financial company (NBFC) established in 1997, with operations formally commencing in 2013 under the leadership of Mr. Jitendra Tanwar. Registered with the Reserve Bank of India as a non-deposit-taking Investment and Credit Company (ICC), its core mission is to deeply understand specific customer segments and address their financial requirements through customized products and streamlined processes. The company envisions becoming a preferred lender for Micro, Small, and Medium Enterprises (MSMEs) in rural and semi-urban markets, acting as a catalyst for positive change among the financially underserved and unserved populations in India. Namdev Finvest is dedicated to economic empowerment, offering financial solutions to help clients achieve their aspirations, with a particular focus on creating social impact through job creation and income enhancement in rural areas.

1. Strategic Focus & Objectives

Core Objectives

Namdev Finvest's primary objective is to become a leading financial institution of choice in India by deeply understanding and addressing the financial requirements of specific customer segments through customized products and streamlined processes. The company aims to provide responsible credit to micro, small, and medium enterprises, particularly focusing on underserved and unbanked borrowers in Tier III and smaller cities.

Short-term goals:

Expand its MSME lending franchise across underserved and unbanked rural and semi-urban markets.

Increase the portfolio of sustainable finance products, including climate-friendly commuters and rooftop solar solutions.

Enhance customer experience through continued digitalization and process streamlining.

Long-term goals:

Be the preferred lender for MSMEs in rural and semi-urban markets.

Act as a catalyst for positive change among financially underserved and unserved populations.

Create social impact through job creation and income enhancement in rural areas.

Specialization Areas

Namdev Finvest primarily specializes in providing financial services, with a strong emphasis on secured MSME lending in rural and semi-urban areas. Approximately 90% of its portfolio comprises secured MSME loans, with the remaining 10% allocated to two-wheeler loans and green/renewable energy segments. The company is dedicated to enabling sustainable MSME growth across India's emerging markets.

Target Markets

The primary target markets for Namdev Finvest are Micro, Small, and Medium Enterprises (MSMEs) located in rural and semi-urban areas of India. The company specifically focuses on underserved and unbanked borrowers in Tier III and smaller cities, including women-led ventures, youth-driven, and emerging businesses.

2. Financial Overview

Funding History

Namdev Finvest has raised a total funding of $49.8 million across 13 rounds since its first funding round on December 30, 2017.

Recent Funding Rounds:

Date: January 19, 2026

Amount: Undisclosed (Conventional Debt Round)

Key Investors: FMO (Dutch Entrepreneurial Development Bank), IIX (Impact Investment Exchange), Franklin Templeton AIF India, Symbiotics.

Fund Utilization: Expansion of MSME lending franchise across underserved and unbanked rural and semi-urban markets in India, with a specific focus on women-led ventures, youth-driven, and emerging businesses.

Breakdown of January 2026 Round (totaling $37 million / INR 324 crore):

FMO: $20 million

IIX (through its Women's Livelihood Bond 7): $8 million

Franklin Templeton AIF India: $2.3 million

Symbiotics: $6.5 million

Date: March 2025

Amount: $3 million (around INR 25 crore)

Key Investors: LC Nueva AIF (existing shareholder) and its promoter group.

Fund Utilization: Further expansion of lending operations.

Date: April 2024

Amount: $19 million (pre-Series C round)

Key Investors: Maj Invest Financial Inclusion Fund III (lead), promoters, and employees.

Fund Utilization: Expansion of MSME lending franchise.

Date: January 2024

Amount: $15 million (equity)

Key Investors: British International Investment, Incofin India Progress Fund, LC Nueva, promoters, and staff.

Fund Utilization: Expansion of MSME lending franchise.

Financial Performance:

Annual Revenue (FY24, as of March 31, 2024): ₹222 crore ($26.8 million).

Operating Revenue (FY24): In the range of INR 100 crore - 500 crore, experiencing a 66.39% increase.

Net Profit (FY25): Rose to nearly ₹41 crore, from ₹21 crore in FY24.

Interest Income (FY25): Increased by almost 63% to ₹317 crore.

Net Profit (Q3 FY26, quarter ended December 2025): ₹12.88 crore, a 15.93% increase compared to ₹11.11 crore in Q3 FY25.

Sales (Q3 FY26, quarter ended December 2025): ₹95.54 crore, a 12.85% increase.

Assets Under Management (AUM) (as of March 31, 2025): ₹1,417 crore.

AUM (as of March 31, 2024): ₹1,185 crore (91% year-on-year increase).

AUM (as of June 30, 2024): ₹1,272 crore.

3. Product Pipeline

Key Products/Services

Namdev Finvest offers a diversified suite of financial products primarily aimed at the MSME segment in rural and semi-urban India.

MSME Loans:

Description: Secured loans tailored for Micro, Small, and Medium Enterprises.

Development Stage: Fully operational and constitutes approximately 90% of the loan portfolio.

Target Market/Condition: Small businesses, entrepreneurs, and self-employed individuals in underserved and unbanked areas.

Key Features and Benefits: Customized products, streamlined processes, focuses on financial inclusion and economic empowerment.

Two-Wheeler Loans:

Description: Loans for purchasing two-wheelers, contributing to the remaining 10% of the loan portfolio.

Development Stage: Fully operational.

Target Market/Condition: Individuals requiring personal transportation, often in rural and semi-urban locales.

Key Features and Benefits: Facilitates personal mobility and access to work or services.

E-Rickshaw Loans:

Description: Financing solutions for the purchase of e-rickshaws.

Development Stage: Operational, falls under the green/renewable energy segment.

Target Market/Condition: Entrepreneurs and individuals looking to engage in sustainable public transportation.

Key Features and Benefits: Promotes climate-friendly commuting and income generation.

Solar Loans:

Description: Loans for acquiring solar energy solutions, particularly rooftop solar systems.

Development Stage: Operational, part of the efforts towards green finance.

Target Market/Condition: Individuals and small businesses seeking to adopt renewable energy for cost savings and environmental benefits.

Key Features and Benefits: Supports sustainable living and reduces carbon footprint.

4. Technology & Innovation

Technology Stack

Namdev Finvest is undergoing a significant digital transformation to enhance operational efficiency and customer experience.

LeadSquared: Implemented for customer relationship management (CRM) and loan origination, featuring API integration for seamless data flow.

OmniFin: Deployed to manage loan servicing and general ledger operations, streamlining the back-end financial processes.

Adrenaline: Utilized for automating human resource (HR) functions, enhancing internal efficiency.

Audit 360: Introduced to digitize internal auditing processes, improving compliance and oversight.

The company leverages technology to optimize credit underwriting, reduce operational costs, and offer tailored financial services to its customers. The focus on digital platforms for various operational aspects demonstrates a strategic investment in technological innovation.

5. Leadership & Management

Executive Team

Jitendra Tanwar: Managing Director & CEO

Professional Background: A first-generation entrepreneur, he founded Namdev Finvest in 2013 and has been instrumental in its expansion. He has a background in financing automobiles. He is also an angel investor in one startup.

Key Contributions: Drives the strategic direction and growth of the company, focusing on inclusive financial services.

Latika Tanwar: Director

Professional Background: One of the founders of the company in 1997.

Key Contributions: Provides guidance and contributes to the company's long-term vision.

Sahil Taneja: Chief Business Officer (CBO)

Professional Background: Appointed in November 2025, he brings over 25 years of experience across MSME lending, retail assets, branch banking, agri finance, and priority sector lending. He held previous leadership positions as Zonal Head at ICICI Bank and Business Head at Finova Capital. Holds a PGDBM from FORE School of Management and a B.Tech in Agricultural Engineering.

Key Contributions: Responsible for scaling business operations and driving revenue growth.

Dominic Vijay Kumar: President and Head of Technology

Professional Background: Appointed in November 2024, he possesses over 25 years of experience in driving technology innovation within the BFSI & NBFC sectors. Holds a Bachelor's degree in Electronics and Communications Engineering and an MCA.

Key Contributions: Oversees the digital transformation initiatives and technological advancements of the company.

Sanjay Chaturvedi: Chief Treasury Officer

Key Contributions: Manages the company's financial vision and growth strategy, engaging with global lenders.

Vinod Sharma: Chief Financial Officer

Key Contributions: Responsible for the financial health and management of the company.

Arvin Jacob: Chief Operating Officer

Key Contributions: Oversees the daily operations and ensures efficiency across business processes.

Recent Leadership Changes

Sahil Taneja was appointed as the Chief Business Officer (CBO) in November 2025. This appointment signifies a strategic focus on expanding business operations.

Dominic Vijay Kumar was appointed as the President and Head of Technology in November 2024, indicating a strong emphasis on technology-driven growth and digital transformation.

6. Talent and Growth Indicators

Hiring Trends and Workforce

As of August 31, 2025, Namdev Finvest had 1,670 employees. Other data points indicate a workforce of 1,033 employees and a 32% growth in employee count in the last year. As of November 2025, the company reported between 201 and 500 total employees, including 5 C-level executives, 23 VP-level, 2 directors, and 255 managers.

Key Roles Being Recruited:
The recent appointments of a Chief Business Officer and a President and Head of Technology suggest a focus on strengthening leadership in business development and technological innovation. The overall growth in employee numbers and management layers indicates active recruitment across various functions to support expansion.

Company Growth Trajectory Indicators:

Significant increase in employee count, particularly in leadership and managerial roles.

Strategic appointments in key areas like business development and technology indicate an aggressive growth strategy.

Consistent growth in Assets Under Management (AUM) and financial performance.

7. Social Media Presence and Engagement

Digital Footprint

Namdev Finvest maintains a social media presence, primarily using platforms like Facebook to engage with its audience.

Brand Messaging and Positioning:
The company's messaging, "हम बदलेंगे आपकी दुनिया" (We will change your world), reflects its mission of transforming the financial landscape for entrepreneurs and empowering individuals. It emphasizes financial inclusion and accessibility for underserved populations.

Community Engagement Strategies:
Beyond financial services, Namdev Finvest is involved in community welfare initiatives, such as organizing sessions on women's health and hygiene, demonstrating a commitment to social impact.

Thought Leadership Initiatives:
The company's recognition for its ESG (Environmental, Social, and Governance) and Sustainability Initiatives suggests a commitment to responsible business practices and contributing to broader societal well-being.

8. Recognition and Awards

Industry Recognition

Namdev Finvest has received recognition for its ESG and Sustainability Initiatives, highlighting its commitment to responsible and impactful business practices.

9. Competitive Analysis

Major Competitors

Namdev Finvest operates within the dynamic and competitive Indian Non-Banking Financial Company (NBFC) sector, specifically focusing on consumer and SME loans.

Aditya Birla Capital: A diversified financial services company offering a wide range of products including lending, investments, and insurance.

Indifi: A leading online lending platform for SMEs, providing various types of business loans.

IIFL Finance: A prominent NBFC offering a broad spectrum of financial products, including home loans, gold loans, and SME loans.

Avanse Financial Services: Specializes in education financing, catering to a specific niche within the NBFC sector.

Mashreq Global Services: While primarily a global financial institution, its presence in financial services can be seen as tangential competition.

Hinduja Housing Finance: Focuses specifically on home loans and property-backed finance.

The NBFC sector also faces competition from traditional banks and emerging fintech companies, which are increasingly leveraging technology to offer innovative financial solutions.

10. Market Analysis

Market Overview

The NBFC sector in India is a significant and rapidly expanding component of the financial system, with assets under management (AUM) projected to cross ₹50 lakh crore by March 2027. As of 2023, the sector reached an impressive size of USD 326 billion and is projected to grow by about 15-17% annually until FY28. This robust growth is largely attributed to a burgeoning middle class, intensified efforts towards financial inclusion, and supportive policy interventions from the government.

NBFCs like Namdev Finvest play a crucial role in providing financing to underserved segments of the population, including MSMEs and retail customers, who often encounter difficulties in securing loans from traditional banking institutions. The MSME segment, a core focus for Namdev Finvest, is projected to exceed ₹5.3 lakh crore in AUM by FY26, demonstrating a significant Compound Annual Growth Rate (CAGR) of 32% from FY21 to FY24, which significantly outpaces the growth rates observed in this sector among traditional banks.

Key Market Trends:

Digital Transformation and Fintech Integration: This trend is pivotal in the NBFC market, enabling faster processing, improved customer experiences, and broader market reach through technological innovation.

Green Financing: There is a growing interest in sustainable financial products, with NBFCs increasingly offering loans for climate-friendly housing, solar panels, and electric vehicles.

Market Challenges and Opportunities:

Challenges: Intense competition from both traditional banks and numerous fintech startups, evolving regulatory landscape, and managing credit risk in diverse customer segments.

Opportunities: The vast underserved and unbanked population in rural and semi-urban areas presents a significant untapped market for financial solutions. The increasing demand for MSME credit and green financing options offers avenues for specialized growth.

11. Strategic Partnerships

Namdev Finvest has established several strategic collaborations to strengthen its market position and expand its operational capabilities.

FMO (Dutch Entrepreneurial Development Bank): A key investor, FMO contributed $20 million in the January 2026 funding round. This partnership provides significant capital and aligns Namdev Finvest with an international development finance institution focused on sustainable private sector growth in developing countries.

IIX (Impact Investment Exchange): Invested $8 million through its Women's Livelihood Bond 7 in the January 2026 funding round. This partnership underscores Namdev Finvest's commitment to social impact and women's economic empowerment.

Franklin Templeton AIF India: A participant in the January 2026 funding round with an investment of $2.3 million. This collaboration brings in institutional investment expertise and support.

Symbiotics: Invested $6.5 million in the January 2026 funding round. Symbiotics is a leading market access platform for impact investing, connecting investors with micro, small, and medium enterprises and low-income households in emerging markets.

Maj Invest Financial Inclusion Fund III: Led the $19 million pre-Series C round in April 2024, signifying a strong vote of confidence from a fund specializing in financial inclusion.

British International Investment (BII): A notable investor in the January 2024 equity round ($15 million), BII is the UK's development finance institution, supporting sustainable economic development.

Incofin India Progress Fund / Incofin Investment Management: Also participated in the January 2024 equity round, bringing expertise in rural and microfinance investments.

LC Nueva AIF: An existing shareholder that provided a $3 million top-up round in March 2025, demonstrating continued confidence in Namdev Finvest's growth trajectory.

These partnerships provide crucial financial backing, strategic guidance, and align Namdev Finvest with institutions that share its vision for inclusive and sustainable financial growth.

12. Operational Insights

Current Market Position: Namdev Finvest is a growing NBFC positioned as a key player in providing secured MSME loans in rural and semi-urban India. Its strong growth in AUM and profitability indicates an ascending trajectory within its niche.