Technology led NBFC Avanti Finance has further raised $15 million or about ₹111 crore in Series A2 from existing investors Oikocredit, Nomura, The Bill & Melinda Gates Foundation and Dr KR Shroff Foundation. With this, it has completed their Series A and debt funding round, which raised a total of $41 million or ₹306 crore.
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“Avanti will use the funds to strengthen its deep tech platform, bolster data science, enhance its product suite and expand the team to enable unparalleled access to affordable credit and financial empowerment to millions of unserved and underserved households in India,” it said in a statement.
Rahul Gupta, CEO of Avanti said, “The Avanti team is excited and ready to accelerate our mission. We are grateful to our board and investors for reposing their faith in our unique business model to democratise credit to the next 100 million households and make every loan an impact story.”