The company has also partnered with banks and NBCFs such as RBL Bank, Shivalik Small Finance Bank, Ambit Finvest, and Western Capital in order to make agricultural loans accessible to farmers.
| Photo Credit:
SHIV KUMAR PUSHPAKAR
Rural-focused fintech platform, Saswat Finance has raised $2.6 million in a Pre-Series A funding round led by Ankur Capital, with support from existing investor Incubate Fund Asia.
Founded in 2021, Saswat Finance is a fin-tech company that provides financial advice and solutions to rural farmers, specifically by providing cattle care, facilitating loans to finance cattle and their needs, cattle insurance to cover any fatalities, and offering para-veterinary services for animals on the farm.
The company has also partnered with banks and NBCFs such as RBL Bank, Shivalik Small Finance Bank, Ambit Finvest, and Western Capital in order to make agricultural loans accessible to farmers. While the company is Mumbai-based, it has a presence in Karnataka, as well as Uttar Pradesh.
In their earlier seed round, Saswat Finance was backed by early-stage investors like Seedstars VC, Sparrow VC, and Incubate Fund Asia. This time, raising $2.6m, Saswat will broaden their focus by expanding their tech capabilities, adding new financial products to their platform, and scaling operations across Maharashtra, Karnataka, and Uttar Pradesh. They also aim to enhance their data and analytics infrastructure, and broaden their product portfolio.
Arun Tiwari, CEO & Co-Founder of Saswat Finance, said, “In a country where over 65 per cent of the population resides in rural areas, India’s rural economy holds immense potential, however systemic barriers like informal lending, inadequate documentation, and lack of efficient last-mile distribution have ensured that a large financial services opportunity is underserved.”
The company has close ties with dairy cooperatives like AMUL (in Maharastra), Britannia, Nandini, Hatsun, etc. and with insurers such as Iffco Tokio General Insurance, Agriculture Insurance Company (AIC), Credit Access Insurance in order to facilitate easy access to dairy services and loans for farmers. It was founded by bankers, Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, each bringing over 18 years of industry expertise.
(Report Filed by BL intern Divyatha Chilukuri)
Published on June 17, 2025
