Avanti Finance is a Bangalore-based non-bank finance company (NBFC) focused on financial inclusion, with a US$24 million equity loan from Rabo Partnerships and IDH Farmfit Fund. Rabobank Group’s subsidiary and investment fund will support Avanti’s efforts to bring frictionless, affordable, hyper-local credit products to smallholder farmers in India, enabling them to build sustainable livelihoods. Existing investors Oikocredit and NRJN Trust also participated in the fundraiser.
Rahul Gupta, CEO of Avanti Finance, said the investment supports the company’s continued investment in expanding its deep tech platform, automated data and social signals-driven underwriting and partnership network. The funding will also accelerate the company’s co-financing program with other financial institutions to improve capital efficiency.
Gupta also praised the Avanti team’s efforts to establish a digital delivery model, serving 275,000 households, paying over 1,300 kroner, with just 65 employees and a lean team of zero-ownership offices. and demonstrated the power of existing community-based usage networks.
Avanti Finance claims to have helped develop over 180 bespoke financing products for different types of life and income streams. Currently, the company has 75 mission-oriented partners covering 24 states and nearly 300 districts in India. The investment in Avanti is in line with Rabo Partnerships’ ‘Smallholder Ecosystem’ strategy focused on providing data-driven financial solutions to smallholder farmers through local cooperatives and service providers.
Avanti Finance has secured US$24 million in equity financing to support its mission of providing affordable credit products to smallholder farmers in India. The investment will also allow the company to accelerate co-financing programs with other financial institutions, forge more partnerships and strengthen its deep tech platform. The investment is in line with Rabo Partnerships’ strategy to provide data-driven financial solutions to smallholder farmers through local cooperatives and service providers.