Participated · Series F · Oct 2021

Veritas Finance focuses on the large and underserved MSME financing market across semi-urban and rural geographies. Started in Tamil Nadu, the company has expanded across eight states and one union territory with 285+ branches and services 115,000+ customers. As of March 31, 2023, Veritas reports AUM of INR 3,500 Crore+ and primarily provides secured small business loans with an average ticket size of INR 5 Lakh. The founder, D. Arulmany, brings 25+ years of experience building financial franchises. Veritas has scaled significantly over the last six years and built deep on-ground operating experience and market knowledge. The company plans to use fresh capital to enter new markets and to strengthen new product lines, including affordable housing loans. Veritas Finance is an Indian NBFC focused on providing loans to micro, small and medium enterprises (MSMEs). The company has an operational presence in eight states. Its core product offering is MSME lending across the markets it serves. The article reports a recent capital infusion, indicating active fundraising activity. Veritas secured primary investment through a Series F round. No revenue, user, or profitability metrics were disclosed in the article. Veritas Finance is a Chennai-based non-banking finance company that lends to micro, small and medium enterprises. It offers 3-4 products tailored to MSME credit needs, with an average cheque size of ₹4 lakh and five-year loan tenors. As of February 29, 2020 the company had a loan book of ₹1,308 crore, 48,638 customers and 1,840 employees, and reported net NPAs of 1.5%. Veritas operates 201 branches across eight states and Puducherry. The company plans to enter Maharashtra, Chhattisgarh and Bihar, initially opening 6–8 branches per new state and expanding further after 12–18 months. Management says it has reduced its cost of borrowing over the last five years and passed savings to customers, and has raised about ₹800 crore of debt from over 40 lenders. Including the latest round, Veritas has raised about ₹750 crore overall from investors. Veritas Finance is a Chennai-based non-banking finance company that provides loans to micro, small and medium enterprises for business expansion, working capital and asset creation. The firm plans to use the new funds to deepen penetration in its existing markets and support customer growth. Founded in 2015, Veritas has a loan book of ₹530 crore, a net worth of ₹430 crore, more than 21,000 customers and over 130 branches across seven states. The company disburses ₹40–45 crore per month and has a ₹300 crore debt line from 23 lenders. Management is monitoring the broader NBFC liquidity issues but expects conditions to ease in the next 4–5 months. Veritas Finance is an MSME-focused non-banking financial company offering long-term finance for business expansion and shorter-term working capital loans to micro and small enterprises. The firm typically offers loans with a normal tenure of five years and may provide higher amounts and longer tenures after assessing the business and requirements. Incorporated in 2015 and registered as an NBFC by the RBI in October 2015, Veritas began operations with initial capital of Rs 13.60 crore. It has raised multiple equity and debt rounds, including Rs 30 crore in Series A and Rs 120 crore in Series B, with cumulative fundraising of about Rs 300 crore prior to the latest debt. The company reports over 14,000 customers, around 700 employees, 68 branches and 100 micro‑centres across Tamil Nadu, Puducherry, Karnataka, West Bengal and Odisha. After its Series B it said it was on course to a loan book of Rs 330–350 crore by the end of FY18.