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Founded
2021
Headquarters
Mumbai (India)
Status
Seed
Company Details
Saswat Finance is a fintech company focused on transforming financial inclusion for India’s rural and semi-urban populations. The company specializes in delivering tailored credit, insurance, and advisory solutions—particularly for smallholder farmers and rural enterprises—using a technology-driven, data-centric approach. By leveraging both traditional and alternative data such as milk production, cash flows and geographic trends, Saswat enables faster, more accurate credit underwriting and risk assessment for customers who are often underserved by traditional financial institutions.
Core product and Services
Cattle Loans: Asset-backed loans for purchasing cattle, cattle sheds, milking machines and chaff cutters.
Livestock Insurance: Insurance products to protect farmers against losses from illness, accidents, or other risks for their cattle.
Para-Veterinary Services: Digital health platform offering inspection, disease monitoring and advisory services for cattle care.
Financial Advisory: Guidance and digital tools to help farmers manage finances and make informed business decisions.
Expanding Portfolio: Plans to introduce additional credit and insurance products for rural businesses.
Key Milestones
- Funding Milestone: Raised $2.6 million in Pre-Series A funding led by Ankur Capital, with participation from Incubate Fund Asia.
- Customer Growth: Onboarded over 6,000 customers and disbursed more than ₹55 crore in asset-backed loans.
- Market Expansion: Scaling operations across Maharashtra, Karnataka and Uttar Pradesh, targeting rural farmers and enterprises.
- Product Diversification: Expanded from cattle loans to include livestock insurance, para-veterinary services and new financial products for rural businesses.
- Strategic Partnerships: Built strong collaborations with dairy cooperatives (Amul, Britannia, Nandini, Hatsun), insurers (Iffco Tokio, Agriculture Insurance Company) and lenders (RBL Bank, Shivalik Small Finance Bank).
Top Clients & Partnerships
Dairy Cooperatives: Amul, Britannia, Nandini and Hatsun for distribution and product integration.
Insurance Providers: Iffco Tokio General Insurance and Agriculture Insurance Company for livestock insurance.
Banking Partners: RBL Bank and Shivalik Small Finance Bank for co-lending and risk-sharing arrangements.
Investors: Ankur Capital and Incubate Fund Asia, providing not just capital but also strategic support and market access.
Future Outlook & Strategic Priorities
- Tech Investment: Enhance technology platform and data analytics to improve product delivery and underwriting.
- Product Expansion: Introduce new financial products for rural businesses beyond cattle loans and insurance.
- Market Scaling: Broaden operations across Maharashtra, Karnataka and Uttar Pradesh to reach more rural customers.
- Partnership Growth: Strengthen ties with dairy cooperatives, insurers and lenders for wider distribution and product integration.
- Financial Inclusion: Address last-mile challenges to increase access to formal financial services for underserved rural segments.
- Strategic Priorities: Focus on sustainable growth, risk management and leveraging digital transformation in agriculture and rural supply chains.
Key Metrics
Total Equity Funding
$2.6 Million
No. of Funding Rounds
1
Latest Funding Round
$2.6 Million, Seed
as of June 17, 2025
Post Money Valuation
-
as of N/A
Funding Multiple
-
as of N/A
Investors
Incubate Fund India
and 2 moreEmployee Count
42
Similar Companies
Card91
Exit Details
-
All Funding Rounds
| Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
|---|---|---|---|---|---|---|
| June 17, 2025 | Seed | $2.6 Million | - | - | - | Ankur Capital, Incubate Fund India |