Navadhan is a Mumbai-based fintech founded in 2019 that targets rural customers. Its core product is AceN, a proprietary technology platform that offers end-to-end services including customer sourcing, digital onboarding, underwriting, payments, and collections. The company employs an alternative underwriting model that evaluates digital footprints and cash-flow surrogates using data science. Navadhan maintains a physical presence alongside its digital platform to better serve customers. Proceeds from the latest financing will be used to expand the AceN platform and the company's delivery and distribution strategies. Financially, Navadhan completed a $5 million Pre-Series A in 2023 following a $1.5 million seed round in June 2023. Navadhan is a rural-fintech startup serving small-holder farmers and small businesses in India with a digital-first approach. It helps MSMEs secure loans from NBFCs and banks by facilitating seamless connections and a paperless digital onboarding experience. The company uses a proprietary alternative underwriting model that assesses digital footprints and cash-flow surrogates using predictive analytics and data science. Navadhan combines technology with on-ground personnel to make it easier for lenders to generate priority sector assets. The startup says it will use the newly raised funds to develop its tech platform and accelerate growth as smartphone and UPI penetration improves. It has enrolled 2 lakh customers and disbursed over Rs 100 crore, and counts lenders such as Northern Arc, Ugro, Vivriti, Caspian, Unitus, and TruCap in its network. Navadhan previously raised an undisclosed pre-seed and has now raised a total of $16 million in equity and debt.

Total raised

$7M

Funding rounds

2

Latest round

Series A

Latest activity

Dec 2023