Mahindra Finance
Mahindra Towers, Dr. G. M. Bhosale Marg, P. K. Kurne Chowk, Worli, Mumbai, Maharashtra, 400018, India
Overview
Mahindra and Mahindra Financial Services Limited (MMFSL) commenced its journey in the rural non-banking finance industry. And with that was born a vision to transform rural and semi-urban India into a self-reliant, flourishing landscape. Since then, we have come a long way, empowering millions of ambitious individuals with personalised finance for a wide range of vehicles, home development requirements and many other diverse endeavours – all to help them live their dreams and Rise in life. At Mahindra Finance, we are guided by a firm belief in people, their dreams, and their potential to achieve those dreams. Hence, our socially inclusive business model facilitates loans to customers based not on their current financial status, but their future earning capacity. This philosophy has instilled a sense of confidence in the minds of rural and semi-urban India – a confidence that allows them to believe that no dream is too big. Today, as one of the leading non-banking finance companies, we are proud to have touched over 3 million lives. During the course of our journey, apart from emerging as the top tractor financer in India, we have constantly strived towards developing skill sets of the local population. Which is why, we provide employment to over 16,000 people in over 1000+ branches across India. This not only ensures equal growth opportunity for all, but also enables us to serve our customers better through local understanding and expertise. So be it a humble farmer or a budding entrepreneur – we are committed to empower every individual with resources to help their dreams see the light of day.
- Total investments
- 2
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 8
Sector focus
- Finance
- Financial Services
- FinTech
Investment portfolio
- SendFriend
Participated · Equity · Feb 2019
SendFriend provides a blockchain technology platform aimed at reducing the cost of remittance payments for Overseas Filipino Workers. The company leverages a partnership with Ripple and uses xRapid, employing XRP as a liquidity vehicle to convert USD to XRP to PHP in seconds and circumvent the correspondent banking system. Led by co-founder and CEO David Lighton, SendFriend was accepted into the Barclays Accelerator Program, Powered by Techstars, to further develop its customer-first solution. The company plans to launch in New Jersey and expand availability to OFWs in other U.S. states via desktop and mobile. Financially, SendFriend has raised $1.7M in total funding and intends to use the proceeds to build out the team, and to focus on community engagement and marketing efforts.
- Aye Finance
Led · Debt Financing · Jul 2017
Aye Finance is a Gurugram-based non-banking financial company. The company has raised about $30 million (Rs 250 crore) in a Series G round. The Series G was led by Singapore’s ABC Impact. ABC Impact is an investor backed by Temasek and Temasek Trust. The article does not disclose other investors, terms or operating metrics. The report appeared as part of coverage of India deals totaling $363 million. Aye Finance is an Indian non‑banking finance company and microfinance lender focused on providing business loans to MSMEs. The company recently closed a EUR 15 million debt transaction with Invest in Visions GmbH. The deal was announced as a debt fund transaction facilitated in collaboration with Agents For Impact. Articles report the amount as roughly INR 137 crore and say the funding will support lending expansion. Coverage positions Aye Finance as one of the leading MFI/NBFC players in India. No operating metrics (revenue or user counts) were disclosed in the sourced articles. Aye Finance operates a digital lending platform that provides mortgage, hypothecation and term credit to underserved micro enterprises, with an average ticket size of $1,800. The company uses in-house technology and analytics to underwrite and deliver financial solutions tailored to small businesses. To date it has disbursed more than $959 million of credit to over 700,000 unorganized businesses and reports over $959 million of assets under management. Aye has a nationwide footprint across 22 states through 395 offices. Financially, revenue grew 45% to $77.10 million in FY2023 from $53.12 million the prior year, and it delivered $9.59 million of profit after tax in the first six months of FY2024. The company plans to go public in the financial year 2026. Aye Finance is an Alphabet-backed, new-age non-banking finance company that provides credit solutions to small retailers. Last month it launched an on-tap BNPL product called SwitchPe to offer credit lines for procurement of supplies. The company says it will use a recently awarded grant to address working-capital challenges faced by kirana stores and expand SwitchPe’s reach. Through the grant Aye will leverage Unilever’s FMCG expertise to make SwitchPe available to a larger number of grocery-store owners, including women. The article frames the effort against the backdrop that kirana stores account for approximately 88% of India’s retail sector. Aye’s collaboration is via TRANSFORM, which combines grant funding, business insight and wider resources for entrepreneurs. Aye Finance focuses on providing customized business loans to the excluded microenterprise segment, using a proprietary cluster-based credit assessment methodology combined with AI to assess credit risk without traditional documentation. Founded in 2014, the lender says it has addressed the credit needs of over 450,000 unorganized grassroots businesses. The company plans to deploy additional capital to support growth and enable inclusion of microenterprises into the formal economy. Management reports a surge in credit applications as businesses rebuild after pandemic disruptions. The current financing is intended to expand lending capacity to meet this increased demand. Aye emphasizes affordable pricing and tailored products for small entrepreneurs.