• Saswat Finance raised $2.6 million in a pre-Series A funding round led by Ankur Capital, with Incubate Fund Asia also participating.
  • The company, founded in 2022, focuses on providing credit access to smallholder farmers and nano/micro enterprises in rural India, using a tech-first platform that analyses traditional and alternative data.

Mumbai-based fintech startup Saswat Finance has secured USD 2.6 million in a pre-Series A funding round led by Ankur Capital, with continued participation from Incubate Fund Asia, which doubled down on its earlier investment.

Tech-Driven Platform for Rural Credit

Founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat Finance is building a tech-first platform designed to enhance credit access for smallholder farmers and nano/micro enterprises in rural India.

The company uses a mix of traditional and alternative data, including milk production, cash flow trends, and geographic indicators, to deliver customised financial solutions and more accurate risk assessments.

The startup’s platform supports credit origination, digital collections, and insurance distribution, with an initial focus on cattle loans, insurance, and para-veterinary services.

Saswat plans to use the newly raised capital to strengthen its technology infrastructure, launch new financial products, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh.

“This new funding will empower us to advance our mission by investing in technology, deepening our reach, and aggressively scaling our operations,” said Arun Tiwari, CEO and Co-founder of Saswat Finance.
“Saswat is uniquely positioned at the intersection of fintech, agritech, and insuretech to redefine access to financial services for underpenetrated segments.”

The startup has already established partnerships with major players in the dairy cooperative ecosystem such as AMUL, Britannia, Schreiber Dynamix, and Hatsun, along with insurers like Iffco Tokio and AIC, and lenders including RBL Bank and Ambit Finvest.

Investors see promise in Saswat’s execution strength and ability to deliver value at the last mile, particularly through its data-driven approach.

Edited by Annette George