The fintech startup will use the funds to expand and enhance its AceN Tech platform
A rural fintech startup, Navadhan, in a seed round led by Varanium NexGen, a fintech-focused fund, has raised $1.5 million. The round also saw participation from existing investor Anicut Capital as well as Gemba Capital. Anicut Capital had co-led the funding.
The fintech startup will use the funds to expand and enhance its AceN Tech platform. Enabling seamless connections and interactions, the platform acts as a link between rural small businesses (MSMEs), non-banking financial companies (NBFCs), and banks.
Navadhan claims it has already onboarded over 200,000 customers and disbursed more than Rs 100 crore. It has a network comprising 15 lenders, including Ugro, Vivriti, Northern Arc, Caspian, Unitus, and TruCap.
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