Elevar Equity

Elevar Equity, LLC is a private equity and venture capital firm that focuses on early-stage and growth equity investments in emerging markets. Established in 2006 and headquartered in Seattle, with additional offices in San Francisco, Bangalore, Mauritius, Bogotá, and Mexico City, Elevar primarily targets entrepreneurs building microfinance institutions and companies providing essential services in sectors such as financial services, education, agriculture, healthcare, and housing. The firm emphasizes investments in underserved communities, particularly in South East Asia and Latin America, with a notable focus on India, Peru, Brazil, Indonesia, and the Philippines. Elevar takes both minority and majority stakes in its portfolio companies and aims to create long-term value by democratizing access to essential products and services for low-income populations, having positively impacted over 25 million customers to date.

Ajit George Abraham

Venture Partner

Raghunandan Bokare

Senior Investment Associate

Chris Brookfield

Co-Founder and Managing Director

Nilay Chandra

Investment Director

Sandeep Farias

Founder and Managing Partner

Shikha Gupta

Investment Director

Jyotsna Krishnan

Managing Partner

Amie Patel

Board Member, CEO and Partner

Debjyoti Paul

Managing Director

Johanna Posada

Founder and Managing Partner

Ruchi Ramann

Venture Partner

Vipul Rawal

Partner and Chief Investment Officer

Shobha Venkataraman

Partner

Poornima Dore Ph.D

Venture Partner

Past deals in Retail Lending

StrideOne

Seed Round in 2022
StrideOne specializes in delivering tailored financial services to startups and small to medium-sized enterprises (SMEs). The company has developed a financial services platform that aims to innovate credit structures specifically for startups. By focusing on smartly designed financial solutions, StrideOne enables these businesses to access risk-efficient opportunities and penetrate previously untapped borrower segments. This approach not only supports the growth of startups but also assists their supply chain partners, fostering a more inclusive financial ecosystem for emerging enterprises.

Indifi

Series D in 2021
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects small businesses in India with lenders, facilitating access to loans for those with potential but limited access to traditional financing options. Founded in 2015 and based in Gurugram, the company utilizes technology to gather and analyze data from various sources, assessing the creditworthiness of businesses based on their performance and industry context. This approach allows Indifi to identify low-risk, high-potential borrowers, thereby increasing their chances of securing funding. The platform supports a variety of sectors, including e-commerce, travel, hospitality, retail, and trading. Additionally, Indifi offers lifecycle support services for lenders, encompassing marketing, customer relationship management, data aggregation, loan monitoring, and payment management, ultimately creating a streamlined process for both borrowers and lenders.

Niro

Seed Round in 2021
Niro is a fintech startup focused on integrating personal credit products into major consumer internet platforms in India. By leveraging its financial platform, Niro provides an application programming interface that allows these platforms to embed lending products seamlessly. This approach aims to democratize access to convenient credit options for the vast population of internet users in the country. By utilizing user engagement and data, Niro creates personalized credit offerings that not only enhance the user experience but also enable consumer internet brands to generate additional revenue through lending solutions.

SarvaGram

Series B in 2021
SarvaGram Fincare Private Limited provides financial services and allied interventions to individuals and small enterprises in rural and semi-urban India. It offers farmer, housing, personal, and small business loans. The company was founded in 2018 and is based in Mumbai, India.

CreditMantri

Venture Round in 2020
CreditMantri Finserv Private Limited provides individuals with credit score analysis and credit improvement program. It engages in educating consumers about their credit history, as well as leverages the same to improve/enhance their chances for becoming loan/credit card eligible. The company also provides individuals with a plan to improve their credit score and works with them for improving their loan/credit card eligibility. In addition, it helps individuals obtain their CIBIL report and provide them with a credit scan; and conducts analysis and provides them with a credit health report. Further, the company provides services for individuals to find loans/credit cards, improve credit score and history, and reduce their EMI costs. CreditMantri Finserv Private Limited was founded in 2012 and is based in Chennai, India.

SarvaGram

Seed Round in 2020
SarvaGram Fincare Private Limited provides financial services and allied interventions to individuals and small enterprises in rural and semi-urban India. It offers farmer, housing, personal, and small business loans. The company was founded in 2018 and is based in Mumbai, India.

Indifi

Series C in 2019
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects small businesses in India with lenders, facilitating access to loans for those with potential but limited access to traditional financing options. Founded in 2015 and based in Gurugram, the company utilizes technology to gather and analyze data from various sources, assessing the creditworthiness of businesses based on their performance and industry context. This approach allows Indifi to identify low-risk, high-potential borrowers, thereby increasing their chances of securing funding. The platform supports a variety of sectors, including e-commerce, travel, hospitality, retail, and trading. Additionally, Indifi offers lifecycle support services for lenders, encompassing marketing, customer relationship management, data aggregation, loan monitoring, and payment management, ultimately creating a streamlined process for both borrowers and lenders.

Indifi

Series C in 2019
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects small businesses in India with lenders, facilitating access to loans for those with potential but limited access to traditional financing options. Founded in 2015 and based in Gurugram, the company utilizes technology to gather and analyze data from various sources, assessing the creditworthiness of businesses based on their performance and industry context. This approach allows Indifi to identify low-risk, high-potential borrowers, thereby increasing their chances of securing funding. The platform supports a variety of sectors, including e-commerce, travel, hospitality, retail, and trading. Additionally, Indifi offers lifecycle support services for lenders, encompassing marketing, customer relationship management, data aggregation, loan monitoring, and payment management, ultimately creating a streamlined process for both borrowers and lenders.

BettrCredit

Seed Round in 2019
Bettr Credit is a values-driven start-up focused on providing accessible financial products to underserved populations. The company offers a modern, mobile-first credit card experience, allowing users to maintain complete control over their card and credit. In addition to credit cards, Bettr Credit provides a range of services including free credit scores, personal loans, overdraft facilities, and mobile insurance. Utilizing machine learning, assisted technology, and data analytics, the platform taps into multiple distribution channels and collaborates with financial influencers and advisors to effectively cross-sell a variety of financial products, helping customers manage their financial journeys more effectively.

Afluenta

Series C in 2019
Afluenta S.A. operates social network for managing and offering peer-to-peer lending and loans. The company was founded in 2008 and is based in Buenos Aires, Argentina.

Bankingly

Series A in 2018
Bankingly is a software as a service (SaaS) provider that specializes in delivering digital banking solutions to financial institutions. Founded in 2015 and based in Montevideo, Uruguay, the company offers a platform that facilitates internet-based banking services through various digital channels, including mobile banking, online banking, and conversational banking. Bankingly's solutions are designed to enhance financial inclusion, particularly for underbanked or lower-income customers. The platform equips financial organizations with tools to manage their products, execute digital transactions, and maintain effective communication with clients. By enabling secure and agile banking experiences at a reasonable cost, Bankingly helps institutions improve customer acquisition and adapt to the rapidly evolving financial landscape.

Afluenta

Series C in 2018
Afluenta S.A. operates social network for managing and offering peer-to-peer lending and loans. The company was founded in 2008 and is based in Buenos Aires, Argentina.

Shubham

Series D in 2018
Shubham Housing Development Finance Company Private Limited, established in 2010 and based in Gurugram, India, specializes in providing housing finance solutions tailored for families with informal incomes. The company focuses on offering home loans, home improvement loans, and loans against property to customers who often do not qualify for traditional financing options. Shubham aims to empower urban low-income families by employing an interview-based approach to underwriting, which allows for a better understanding of the customer's unique financial circumstances. This method enables the company to offer customized and affordable credit programs that cater to the specific housing needs of individuals and families in urban and semi-urban areas.

Afluenta

Series B in 2017
Afluenta S.A. operates social network for managing and offering peer-to-peer lending and loans. The company was founded in 2008 and is based in Buenos Aires, Argentina.

CreditMantri

Series B in 2017
CreditMantri Finserv Private Limited provides individuals with credit score analysis and credit improvement program. It engages in educating consumers about their credit history, as well as leverages the same to improve/enhance their chances for becoming loan/credit card eligible. The company also provides individuals with a plan to improve their credit score and works with them for improving their loan/credit card eligibility. In addition, it helps individuals obtain their CIBIL report and provide them with a credit scan; and conducts analysis and provides them with a credit health report. Further, the company provides services for individuals to find loans/credit cards, improve credit score and history, and reduce their EMI costs. CreditMantri Finserv Private Limited was founded in 2012 and is based in Chennai, India.

Indifi

Series B in 2016
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects small businesses in India with lenders, facilitating access to loans for those with potential but limited access to traditional financing options. Founded in 2015 and based in Gurugram, the company utilizes technology to gather and analyze data from various sources, assessing the creditworthiness of businesses based on their performance and industry context. This approach allows Indifi to identify low-risk, high-potential borrowers, thereby increasing their chances of securing funding. The platform supports a variety of sectors, including e-commerce, travel, hospitality, retail, and trading. Additionally, Indifi offers lifecycle support services for lenders, encompassing marketing, customer relationship management, data aggregation, loan monitoring, and payment management, ultimately creating a streamlined process for both borrowers and lenders.

Indifi

Series B in 2016
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects small businesses in India with lenders, facilitating access to loans for those with potential but limited access to traditional financing options. Founded in 2015 and based in Gurugram, the company utilizes technology to gather and analyze data from various sources, assessing the creditworthiness of businesses based on their performance and industry context. This approach allows Indifi to identify low-risk, high-potential borrowers, thereby increasing their chances of securing funding. The platform supports a variety of sectors, including e-commerce, travel, hospitality, retail, and trading. Additionally, Indifi offers lifecycle support services for lenders, encompassing marketing, customer relationship management, data aggregation, loan monitoring, and payment management, ultimately creating a streamlined process for both borrowers and lenders.

Covalto

Seed Round in 2016
Credijusto provides an online lending platform designed to offer easy, reliable, and transparent credit for SMEs. Its platform offers credit models that are focused on the health of each business, focusing on overall performance, rather than considering only the owner's personal credit history, enabling small businesses to obtain accessible credits in a fraction of the time and effort and grow their business. The company's credit models are focused on the health of each business, focusing on overall performance, rather than considering only the owner's personal credit history. The company was founded in 2015 and is based in Mexico City.

Afluenta

Series B in 2016
Afluenta S.A. operates social network for managing and offering peer-to-peer lending and loans. The company was founded in 2008 and is based in Buenos Aires, Argentina.

Indifi

Seed Round in 2015
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects small businesses in India with lenders, facilitating access to loans for those with potential but limited access to traditional financing options. Founded in 2015 and based in Gurugram, the company utilizes technology to gather and analyze data from various sources, assessing the creditworthiness of businesses based on their performance and industry context. This approach allows Indifi to identify low-risk, high-potential borrowers, thereby increasing their chances of securing funding. The platform supports a variety of sectors, including e-commerce, travel, hospitality, retail, and trading. Additionally, Indifi offers lifecycle support services for lenders, encompassing marketing, customer relationship management, data aggregation, loan monitoring, and payment management, ultimately creating a streamlined process for both borrowers and lenders.

Vistaar

Series D in 2015
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

CreditMantri

Series A in 2015
CreditMantri Finserv Private Limited provides individuals with credit score analysis and credit improvement program. It engages in educating consumers about their credit history, as well as leverages the same to improve/enhance their chances for becoming loan/credit card eligible. The company also provides individuals with a plan to improve their credit score and works with them for improving their loan/credit card eligibility. In addition, it helps individuals obtain their CIBIL report and provide them with a credit scan; and conducts analysis and provides them with a credit health report. Further, the company provides services for individuals to find loans/credit cards, improve credit score and history, and reduce their EMI costs. CreditMantri Finserv Private Limited was founded in 2012 and is based in Chennai, India.

Ujjivan

Private Equity Round in 2015
Ujjivan Financial Services Limited, founded in 2005 and headquartered in Bengaluru, India, specializes in providing a comprehensive range of financial services aimed at economically active poor individuals in urban and semi-urban areas. The company offers a variety of products, including micro and rural finance, housing loans, personal and vehicle loans, and loans for micro and small businesses. Additionally, Ujjivan provides group and individual insurance products. Its subsidiary, Ujjivan Small Finance Bank Limited, was established in 2016 and focuses on serving financially unserved and underserved segments through banking products, including savings and current accounts, fixed deposits, and an array of loan offerings such as agricultural, educational, and personal loans. Ujjivan operates a significant network of banking outlets and ATMs, reflecting its commitment to financial inclusion in India.

Shubham

Series C in 2014
Shubham Housing Development Finance Company Private Limited, established in 2010 and based in Gurugram, India, specializes in providing housing finance solutions tailored for families with informal incomes. The company focuses on offering home loans, home improvement loans, and loans against property to customers who often do not qualify for traditional financing options. Shubham aims to empower urban low-income families by employing an interview-based approach to underwriting, which allows for a better understanding of the customer's unique financial circumstances. This method enables the company to offer customized and affordable credit programs that cater to the specific housing needs of individuals and families in urban and semi-urban areas.

Vistaar

Series C in 2014
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

Shubham

Series B in 2012
Shubham Housing Development Finance Company Private Limited, established in 2010 and based in Gurugram, India, specializes in providing housing finance solutions tailored for families with informal incomes. The company focuses on offering home loans, home improvement loans, and loans against property to customers who often do not qualify for traditional financing options. Shubham aims to empower urban low-income families by employing an interview-based approach to underwriting, which allows for a better understanding of the customer's unique financial circumstances. This method enables the company to offer customized and affordable credit programs that cater to the specific housing needs of individuals and families in urban and semi-urban areas.

Vistaar

Series B in 2012
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

Vistaar

Series B in 2012
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

Ujjivan

Venture Round in 2012
Ujjivan Financial Services Limited, founded in 2005 and headquartered in Bengaluru, India, specializes in providing a comprehensive range of financial services aimed at economically active poor individuals in urban and semi-urban areas. The company offers a variety of products, including micro and rural finance, housing loans, personal and vehicle loans, and loans for micro and small businesses. Additionally, Ujjivan provides group and individual insurance products. Its subsidiary, Ujjivan Small Finance Bank Limited, was established in 2016 and focuses on serving financially unserved and underserved segments through banking products, including savings and current accounts, fixed deposits, and an array of loan offerings such as agricultural, educational, and personal loans. Ujjivan operates a significant network of banking outlets and ATMs, reflecting its commitment to financial inclusion in India.

Swadhaar FinServe

Venture Round in 2010
RBL FinServe Ltd. is a financial service provider based in Mumbai, India, that focuses on delivering loans and savings products to low-income households and micro-entrepreneurs. The company offers a range of financial solutions, including loans for micro and small enterprises, basic saving bank deposit accounts, and credit-linked life insurance. By addressing the needs of underserved communities, RBL FinServe aims to empower economically active individuals in urban areas, particularly in cities like Mumbai, which has a significant population of urban poor. Originally established as Swadhaar FinServe Pvt. Ltd. in 2005, the company rebranded to its current name and operates as a subsidiary of RBL Bank Limited. Through its innovative approach to microcredit, RBL FinServe seeks to create a new lending methodology that can be applied to other major cities in India.

Vistaar

Series A in 2010
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

Grama Vidiyal Microfinance

Venture Round in 2009
Grama Vidiyal Microfinance is a prominent microfinance institution in Tamil Nadu, specifically operating in Trichy and Chennai. It specializes in providing small, collateral-free loans to women who lack access to formal credit. The organization is committed to empowering women from impoverished families by facilitating their inclusion in community networks and enhancing their social, economic, and political standing. In addition to its loan offerings, Grama Vidiyal also provides insurance services, supporting individuals in meeting their general, seasonal, and business financing needs. Through its focused approach to poverty alleviation, Grama Vidiyal aims to foster sustainable development within the communities it serves.

Ujjivan

Venture Round in 2008
Ujjivan Financial Services Limited, founded in 2005 and headquartered in Bengaluru, India, specializes in providing a comprehensive range of financial services aimed at economically active poor individuals in urban and semi-urban areas. The company offers a variety of products, including micro and rural finance, housing loans, personal and vehicle loans, and loans for micro and small businesses. Additionally, Ujjivan provides group and individual insurance products. Its subsidiary, Ujjivan Small Finance Bank Limited, was established in 2016 and focuses on serving financially unserved and underserved segments through banking products, including savings and current accounts, fixed deposits, and an array of loan offerings such as agricultural, educational, and personal loans. Ujjivan operates a significant network of banking outlets and ATMs, reflecting its commitment to financial inclusion in India.

Madura Microfinance

Venture Round in 2008
Madura is a highly efficient, customer focused microfinance institution that serves economically active, rural women in Tamil Nadu.
Bharat Financial Inclusion Limited, formerly SKS Microfinance Limited, is a non-banking financial company-micro finance institution (NBFC-MFI). The Company is engaged in providing micro finance services to women in the rural areas of India enrolled as members and organized as Joint Liability Groups. In addition to its business of providing micro-credit, the Company uses its distribution channel to provide other financial products and services to the members. Programs in this regard primarily relate to providing of loans to the members for the purchase of mobile handsets, solar lamps, bicycle and sewing machines, among others.

Credex

Venture Round in 2006
Credex is a profit oriented microfinance institution dedicated to offering financial support for the economic and social development of those unserved by the traditional banking system. Credex targets low-income borrowers through individual productive loans in the poor urban and semi-urban areas and village banking in the rural areas of Mexico.
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