SarvaGram Secures Rs 565 Cr In Series D From Peak XV, Existing Investors

SarvaGram, a Pune-based digital lending startup focused on rural markets, has raised Rs 565 crore (approximately $68.07 million) in its Series D funding round, led by Peak XV Partners. Existing backers, including TVS Capital, Temasek, Elevar Equity, and Elevation Capital, also participated, with Avendus Capital serving as the financial advisor.

This funding brings SarvaGram’s total capital to Rs 950 crore. Co-founded in 2018 by Utpal Isser and Sameer Mishra, SarvaGram caters to underbanked but creditworthy households in semi-urban and rural areas. The company segments its clientele into salaried individuals, farmers, and MSMEs, offering various loan types including gold, housing, and consumer durable loans. Its unique household-centric model treats the entire family as an economic unit, broadening access to credit in underserved areas.

CEO Utpal Isser highlighted that the new funding will "enhance access to financial solutions tailored for rural households," aiming to empower these communities. 

Currently operating in 150 locations across Gujarat, Maharashtra, Karnataka, and Rajasthan, SarvaGram plans to expand its footprint within existing states and enter new markets this fiscal year. 

The startup also provides insurance and pay-per-use farm mechanisation options, addressing the multifaceted needs of rural households.