Namaste Credit raises 3.8 million A series funds from Nexus Venture Partners

New Delhi, Apr 4 (KNN) SME lending startup Namaste Credit has raised about Rs 24.70 crore (USD 3.8 million) a ‘A’ series funds from Nexus Venture Partners.

In an official statement it is mentioned that the company will use these funds to spread its geographical boundaries, to enhance technology and set a platform for data analytics and to increase its scale of business.

With this, the startup plans to significantly increase its number of channel partner program across India and further strengthen its technology licensing partnerships with leading lenders globally.

Founded in 2014, Namaste Credit mission is to provide financial services widely. With the participation of over 30 institutional lenders, the disbursement volumes through Namaste Credit’s platform have increased 10 times in the past 12 months.

Founder of Namaste Credit, Gaurav Anand said that Namaste Credit technology platform enables lenders to identify potential underwriting issues much faster and also prevent intentional fraud.

Further, he added that the company gives services related to predictive analytics on banking and financial data of SMEs very efficiently, which in turn help lenders to access price and risk accurately.

Sunstone Capital, run by ex-McKinsey and Bank of America professionals, acted as the exclusive financial adviser for this transaction. (KNN/YV)