Namdev Finvest raises $37M to expand MSME lending in rural and semi-urban India

Namdev Finvest, a Jaipur-based NBFC, has secured $37 million through NCDs and ECB, with investments from FMO, IIX, Franklin Templeton AIF India, and Symbiotics. FMO contributed $20 million, while IIX’s WLB7 invested $8 million. The funds will expand MSME lending in rural and semi-urban India. Founded in 2013 by Jitendra Tanwar, Namdev Finvest focuses on providing loans to MSMEs, vehicle owners, and women entrepreneurs in Tier III cities. The company aims to improve credit access and support financial inclusion with a focus on climate-aligned finance.