Shivalik SFB converted from an urban cooperative bank (established in 1997) into a small finance bank in 2021 and has a retail banking legacy. It serves over 900,000 customers through 79 branches and 114 business correspondent outlets across 11 states. The bank's business size crossed ₹6,700 crore, its headcount rose to about 1,000, and it reported revenue of ₹423 crore in FY25. Approximately 90% of the bank's business is secured lending, with roughly 50% comprising affordable home loans, business loans and gold loans. Management says it is building a strong digital foundation to serve MSME and retail customers; the fresh equity will be used to strengthen the technology stack and expand product, engineering and operations teams. Besides organic expansion, the bank is open to acquisitions in affordable housing finance or secured MSME lending for faster growth. Shivalik Small Finance Bank operates as a small finance bank focused on digital-first retail and small-business banking products. The bank plans to use new funding to enhance its tech stack, strengthen its team, and further develop its product proposition. It aims to accelerate growth by leveraging digital banking adoption among small business and retail customers. Shivalik serves over eight lakh customers and runs 175 branches across Uttar Pradesh, Uttarakhand, Madhya Pradesh, NCR, Haryana, Rajasthan, Gujarat, Telangana, Karnataka, Maharashtra, and Tamil Nadu. The company positions itself to drive inclusive growth for MSMEs and underserved segments through expanded digital capabilities and product development.

Total raised

$23M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2025