[Funding alert] SSA Finserv raises $3M from Blue Ashva Capital to expand MSME lending operations
SSA Finserv will use the funding made through Blue Ashva Sampada Fund to expand lending from top cities to small towns, the NBFC said in a statement.
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raised $3 million (around Rs 21 crore) from Blue Ashva Capital.
The funding, made through
Blue Ashva Sampada Fund, will be used to expand lending from top cities to small towns, the NBFC said in a statement on Tuesday. The investment will further reaffirm our commitment to become a preferred financial partner for small businesses by expanding our reach into more locations, said
Synopsis
SSA Finserv founded in June 2019 in Mumbai, specialises in providing customised finance to small businesses through cash-flow based loan products.
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It offers both collateral-free and collateral-backed loans, loans against work orders and sales, and bill discounting.
MUMBAI: Small businesses-focused non-banking lender SSA Finserv has raised $3 million (around Rs 21 crore) from Blue Ashva Capital. The money, invested through Blue Ashva Sampada Fund, will be used to expand lending from top cities to small towns, the NBFC said in a statement on Tuesday.
The investment will further reaffirm our commitment to become a preferred financial partner for small businesses by expanding our reach into more locations, said Vikas Agarwal, founder-managing director and chief executive of SSA Finserv.
SSA Finserv raises $3 million from Blue Ashva Capital
January 12, 2021
Vikas Agarwal, MD and CEO, SSA Finserv× SSA Finserv, a non-banking financial company, has raised $3 million from Blue Ashva Sampada Fund to expand its lending operations. The company will use the funds to expand its presence to Tier-I and II cities and enhance the network.
“The MSME segment forms the mainstay of the economy. The exclusion of a sizeable number of MSMEs from formal lending ecosystems and the credit crunch in the sector has impacted their growth. The investment from Blue Ashva Capital will further reaffirm our commitment to become the preferred financial partner for MSMEs,” SSA Finserv Managing Director and CEO Vikas Agarwal said.
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Team SucSEED Premium
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