Namdev Finvest raises $37 million from FMO, IIX, others

This comes after Namdev raised $38 million in debt in January 2025 from investors like Developing World Markets, BlueOrchard, and Mirova.

In addition to debt, Namdev has also received equity investments from impact-focused investors such as British International Investment, Incofin, and Maj Invest.

Namdev operates in 9 states and has developed a scalable, secure lending model with strong risk management and governance. The new funds will be used to grow Namdev’s MSME lending in underserved rural and semi-urban areas of India.

Jitendra Tanwar, Managing Director & CEO, Namdev Finvest Pvt. Ltd., said “This has been a defining year for Namdev Finvest. The trust placed in us by globally reputed institutions such as FMO, IIX, and Franklin Templeton is a strong endorsement of our governance, operating model, and long-term vision.”

“At FMO, we believe that financial inclusion is a cornerstone for reducing inequalities and driving sustainable economic growth,” Juan Jose Dada Ortiz, director for financial institutions at FMO, said. “Our $20 million investment in Namdev Finvest will enable thousands of micro and small entrepreneurs particularly women-led and rural businesses to access the credit they need to thrive.”

Namdev Finvest, founded in 2013 and based in Jaipur, provides secured loans for small businesses (MSMEs). It also offers financing for two-wheelers, electric rickshaws, and rooftop solar projects.

The company mainly serves smaller towns and rural areas, where access to formal loans is limited and many people do not have traditional credit histories.

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