Mumbai (Maharashtra) (India), May 4: Dhanvarsha Finvest Ltd. (BSE: 540268) has intimated the exchanges of a business update. The company’s provisional loan book as on March 2022 stood at Rs. 3050 Million, growing at a CAGR of 184%. Growth in loan book driven by robust disbursement to MSMEs. The loan disbursement grew at a CAGR of 601%.
The number of customers grew from 5935 (FY21) to 34842 (FY22) YoY, and lenders grew from 2 to 29 over 2 years, owing to the confidence of lenders in the company’s model. The company’s distribution also grew from 2 to 40 over a period of 2 years.
Dhanvarsha’s mission started with an idea an idea to ‘build social capital’ by aiming to provide credit solutions to India’s large underserved and underbanked MSME segment. Promoted under the aegis of the 80 year old Wilson Group of Mumbai, the company aims to provide timely, affordable and sustainable access to credit to the country’s almost 500 million under-served borrowers, either through its own balance sheet or via significant distribution tie-ups coupled with its robust technology engine.
The company prides itself on highest standards of corporate governance and transparency with an eminent and completely Independent Board that comprises of veterans from banking, fintech, taxation, regulation, and global businesses. Management has been carefully recruited from renowned institutions like Bank of America, Capital First, HDFC Bank, IDFC, Oberoi Realty, PWC, SKS Microfinance, Union Bank of India and more.