Mahaveer Finance India

Mahaveer Finance India Limited (MFIL) is a family-run non-banking financial company (NBFC) specializing in used commercial and passenger vehicle financing. Mahaveer has grown its Assets Under Management (AUM) from ₹50 crore in 2016 to ₹1,000 crore in 2025, leveraging its proprietary credit engine SURETY and hybrid branch-tech model. The NBFC’s unique value proposition lies in its deep understanding of underserved segments—70% of borrowers are first-time vehicle owners—and backward integration into vehicle resale for accurate price discovery. 

Core Products and Services

• Used Vehicle Financing: Loans for commercial trucks, tippers and passenger vehicles (₹50,000–₹10 lakh).

• SME Diversification (Emerging): Loan Against Property (LAP) and business loans (₹10–15 lakh average ticket size).

• Tech-Enabled Underwriting: SURETY engine evaluates vehicle price, usage history and configuration. Digital payment integrations reducing cash collections from 60% pre-COVID to 10–15%.

Business Model & Revenue Streams

• Interest Income (95%): Generated from vehicle loans at 12–13% interest.

• Processing Fees (5%): 1% of loan amount plus GST.

• Vehicle Financing: 100% of current revenue; diversifying into SME loans.

Geographic Mix

• Tamil Nadu (48%), Andhra Pradesh (36%), Telangana (14%), Puducherry (3%).

Customer Segmentation

• First-Time Buyers (70%): Driver-turned-owners with limited credit history.

• Small Fleet Operators (30%): Businesses with 1–5 vehicles.

Top Clients & Partnerships

• Lender Partnerships: State Bank of India (SBI) , HDFC Bank & AU Small Finance Bank

• Technology Partners: Autonom8

• Investor Backing: Elevation Capita, BanyanTree Finance & First Bridge Capital

Future Outlook & Strategic Priorities

• Geographic Expansion: Scaling from 80 to 100+ branches by 2026.

• Product Diversification: Launching LAP and SME business loans (₹10–15 lakh tickets).

• Tech Investment: Enhancing SURETY with AI for predictive risk analytics.

• EV Financing: Exploring entry as India’s used EV market matures.

• Regulatory: Evolving RBI guidelines for NBFC capital adequacy (current CRAR: 24.3%).