Arthan Money Ties down Rs 50 Crore to Fuel Development

Arthan Finance, a non-banking financial company (NBFC) focused on empowering micro and small businesses, has secured Rs 50 crore (approximately $6 million) in fresh funding. This investment round was led by Incofin India Progress Fund and the Michael and Susan Dell Foundation.

Building on a Strong Foundation

This most recent implantation of capital presents to Arthan Money’s complete subsidizing to Rs 83 crore ($10 million). Past subsidizing adjusts involved cooperation from the organization’s originators, private backers, and the Michael and Susan Dell Establishment, exhibiting proceeded with trust in Arthan’s main goal.

Investing in the Future

The funds raised will be strategically deployed to fuel Arthan Finance’s growth and technological advancements. The company plans to utilize the capital to:

• Expand its reach: Arthan Finance will leverage the funding to expand its geographic footprint, reaching new markets and supporting a wider range of entrepreneurs.
• Grow Assets Under Management (AUM): The fresh capital will enable Arthan to increase its loan portfolio and empower a larger number of micro and small businesses.
• Embrace AI and Machine Learning: Arthan Finance is committed to harnessing the power of cutting-edge technologies. The funding will be used to invest in advanced AI and ML-based underwriting systems, streamlining loan processes and enhancing efficiency.

A Champion for Micro and Small Businesses

Founded by Kunal Mehta, Arthan Finance is a new-age lending platform specializing in providing financial solutions to self-employed nano and micro entrepreneurs. Operating primarily in Maharashtra, Odisha, Andhra Pradesh, and Telangana, Arthan Finance focuses on tier II, III, and IV cities, which are often underserved by traditional financial institutions.

The company boasts a commendable track record, having disbursed over Rs 500 crore to more than 20,000 borrowers. Arthan offers loan amounts ranging from Rs 2,000 to Rs 20 lakhs, catering to the diverse needs of small businesses.