SarvaGram, a rural-focused financial services company, is rapidly expanding its offline distribution network, known as Sarvamitras, across its current operations in Gujarat, Maharashtra, Karnataka, and Rajasthan, with plans to enter new states in the ongoing financial year.
Through Sarvagram Fincare Private Limited (SFPL), the company’s non-banking finance arm, and partner lenders, these Sarvamitras—locals who have received training from Sarvagram—play a critical role in facilitating credit availability. The organization caters to the needs of semi-urban and rural households with a variety of services, such as loans, insurance products, and farm mechanization solutions. This growth, which comes after a prior $35 million financing round from private equity investors, demonstrates Sarvagram’s dedication to strengthening its position in underbanked areas.
Sarvagram, which was founded in 2018 by Utpal Isser and SAMEER MISHRA, has established itself as a major force in the financial inclusion of aspiring rural and semi-urban families. In order to provide a variety of loan products, including gold, housing, personal, farm, and consumer durable loans, the organization uses a household-centric lending approach, classifying its clients into salaried, farm, and MSME groups.
Despite having significant operating costs in its early phases, Sarvagram Fincare made a profit of Rs 7.6 crore after taxes in FY24. With assets under management (AUM) increasing 1.5 times to Rs 1,166 crore, the group’s other company, Sarvagram Solutions Private Limited (SSPL), has been reducing its losses in the meantime. Sarvagram has the ability to change the financial landscape, as seen by its continued expansion and strategic emphasis on underserved communities.
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