Mumbai, June 2025 — In a major push towards rural financial inclusion, Saswat Finance, a tech-first fintech platform, has raised $2.6 million in a pre-Series A round led by Ankur Capital, with participation from Incubate Fund Asia, which doubled down on its earlier investment.
Founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat is on a mission to bridge the vast financial gap in India’s underserved heartlands—where traditional banking still struggles to reach.
Saswat’s innovation lies in how it blends technology, local insight, and alternative data—from milk production patterns to geographic trends—to power credit, insurance, and advisory services tailored to rural realities. Its proprietary models and on-ground engagement have helped it onboard over 6,000 customers and disburse ₹55 crore in asset-backed loans so far.
The fresh capital will accelerate Saswat’s growth across Maharashtra, Karnataka, and Uttar Pradesh, expand its product portfolio, and bolster its data and analytics infrastructure to serve rural Bharat more deeply and intelligently.
“India’s rural segments—over 65% of the population—are still underserved by mainstream financial services,” said Arun Tiwari, CEO of Saswat Finance. “At Saswat, we blend technology with trust, bringing banking, credit, and security to their doorsteps. This funding marks a significant step forward in that journey.”
With earlier backing from Seedstars VC, Sparrow VC, and Incubate Fund Asia, Saswat is building more than a fintech—it’s building a future where access to capital is not a privilege, but a right, no matter where you live.
