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Saswat Finance Raises $2.6 Million to Revolutionize Rural Financial Services
News
18 June 2025
2 min read
354
Mumbai-based fintech startup Saswat Finance has secured $2.6 million (₹22.3 crore) in a pre-Series A funding round led by Ankur Capital, with existing investor Incubate Fund Asia participating. Founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat is dedicated to enhancing financial inclusion by serving smallholder farmers and nano-/micro-enterprises across rural India
The fresh capital will be used to bolster the company's tech infrastructure, roll out diversified financial products—including cattle loans, insurance, and para-veterinary services—and expand operations into Maharashtra, Karnataka, and Uttar Pradesh. Saswat leverages both traditional and alternative data points—such as milk output, cash flow patterns, weather, and local geography—to improve credit risk assessments and accelerate service delivery
Since inception, Saswat has disbursed over ₹55 crore in asset-backed loans and serves more than 6,000 customers, working in partnership with prominent dairy cooperatives like Amul and Hatsun, insurers like IFFCO Tokio, and financial institutions including RBL Bank
Ankur Capital’s Krishnan Neelakantan highlighted the startup’s critical role in closing last-mile gaps via its tech-driven model, while Incubate Fund Asia reaffirmed its backing of the company’s expansion strategy
Powered by its tri-sector approach—combining fintech, agritech, and insuretech—Saswat Finance is well positioned to transform rural credit delivery and empower underserved communities across India's heartland.
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