Namdev Finvest Private Limited has raised USD 37 million (approximately Rs 324 crore) through a combination of listed non-convertible debentures (NCDs) and external commercial borrowings (ECB). The funding round saw participation from global and domestic investors including FMO (the Dutch Entrepreneurial Development Bank), Impact Investment Exchange (IIX), Franklin Templeton Alternative Investments Fund India, and long-term partner Symbiotics.
Founded in 2013 by first-generation entrepreneur Jitendra Tanwar, Namdev Finvest focuses on providing responsible credit to micro, small and medium enterprises across India’s Tier III and smaller towns. The company currently operates across nine states with a secured, scalable lending model supported by strong governance and prudent risk management practices.
The fresh capital will be deployed to expand Namdev’s MSME lending footprint across underserved rural and semi-urban regions. A key focus will be on financing women-led enterprises, youth-driven businesses, and emerging entrepreneurs who typically lack access to formal credit. The expansion aims to support livelihood creation, local employment generation, and inclusive economic growth.
A significant portion of the funding comes from development-focused investors. FMO has committed USD 20 million (around Rs 180 crore), while IIX has invested USD 8 million (approximately Rs 71 crore) through its Women’s Livelihood Bond™ 7, reinforcing Namdev’s focus on gender-lens and impact-driven lending. Franklin Templeton AIF India has contributed USD 2.3 million (Rs 20 crore), and Symbiotics has extended USD 6.5 million (around Rs 53 crore), continuing its long-standing partnership with the NBFC.
Namdev has previously attracted equity investments from global institutions such as British International Investment, Incofin and Maj Invest. In March 2025, the company also completed a USD 3 million top-up round from existing shareholder LC Nueva AIF and the promoter group, strengthening its balance sheet ahead of future growth.
Commenting on the investment, Juan Jose Dada Ortiz, Director – Financial Institutions at FMO, said the funding would help expand access to credit for micro and small entrepreneurs, particularly women-led and rural businesses, while supporting inclusive growth in line with the UN Sustainable Development Goals.
Robert Kraybill, Managing Director and CIO at Impact Investment Exchange, highlighted that the Women’s Livelihood Bond™ 7 is designed to scale gender-lens investing and empower over 773,000 women and girls by backing institutions like Namdev Finvest.
Symbiotics’ Regional Head for South Asia, Prashant Bhardwaj, noted that the continued investment reflects confidence in Namdev’s strategy, governance, and commitment to sustainable and climate-aligned finance.
Jitendra Tanwar, Managing Director and CEO, Namdev Finvest, said the participation of globally reputed institutions validates the company’s long-term vision. He added that the partnerships will enable Namdev to scale responsibly while deepening its impact in rural and semi-urban India and empowering MSMEs with timely and affordable credit.
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