SSA Finserv, a non-banking fiscal corporation, has lifted $3 million from Blue Ashva Sampada Fund to develop its lending operations. The corporation will use the resources to expand its existence to Tier-I and II towns and improve the community.
“The MSME segment forms the mainstay of the financial system. The exclusion of a sizeable number of MSMEs from official lending ecosystems and the credit history crunch in the sector has impacted their advancement. The investment decision from Blue Ashva Funds will additional reaffirm our dedication to grow to be the favored monetary companion for MSMEs,” SSA Finserv Running Director and CEO Vikas Agarwal mentioned.
“The MSME sector in the nation is instrumental in producing huge-scale work. We are very pleased to be associated with SSA Finserv in their mission to support MSMEs scale up their business enterprise,” stated Satya Bansal, Founder, Blue Ashva Money.
SSA Finserv was founded in June 2019 by Vikas Agarwal. The firm provides an array of cashflow-based bank loan products and solutions this sort of as collateral-totally free company loan, collateral-backed business enterprise loan, finance in opposition to a work buy, profits bill discounting to plug the credit rating gap for companies. The NBFC lends ₹10 lakh to ₹1 crore to enterprises throughout manufacturing, services and buying and selling segments with a turnover of ₹1 crore to ₹50 crore.