MSME-lender Veritas raises ₹440 crore

Veritas Finance Pvt. Ltd, a non-banking finance company (NBFC) lending to MSMEs, has raised ₹440 crore of primary investment from existing and new investors.

The company proposes to use the additional capital to further penetrate existing markets.

The current capital will place the organisation strongly to build a loan book of ₹4,000 crore in the next 12 months, the company said.

The current round of funding came from existing investors Norwest Venture Partners, Kedaara Captial and Caspian and new investors namely Evolvence India Fund III Ltd and Growth Catalyst Partners LLC, Veritas Finance said in a statement.

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