Finwego is an education-focused lender operating in Tamil Nadu that specializes in lending across the school ecosystem. It has on-boarded over 200 schools in the past six months and plans to expand to over 1,000 by the end of the financial year, with a longer-term aim to reach 10,000+ schools over five years. The company will use the $1.7 million raised to fund geographic expansion, grow a profitable loan book, and strengthen its technology and data infrastructure. Finwego also plans to apply for a non-banking finance company (NBFC) licence soon to broaden its lending capabilities. The round included venture capital firm SAIF Partners alongside high-net-worth individuals and angel investors. Management said it intends to build a high-caliber team and digital infrastructure to support robust growth plans.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2019