Rural fintech firm SarvaGram crosses Rs 172 crore in AUM

MUMBAI: Rural finance firm SarvaGram announced the crossing of Rs 172 crore mark in AUM on Friday. In addition to that, the company has also registered an increase in its annual recurring revenue (ARR), taking the number to over Rs 55 crore for FY’22.

The growth was enabled by a number of factors including the implementation of scorecards for improved credit assessment and for automation of the lending and distribution processes. Other factors include the introduction of a state-of-the-art SaaS platform to digitise SarvaGram’s loan collection program. Maintaining the current momentum, the company is targeting to acquire an AUM of Rs 500 crore in FY ‘23, and reach an AUM of Rs 10,000 crore in the next five years. It also aims to reach 15,00,000 households in the next 5 years.

SarvaGram provides multiple loan offerings and farm mechanisation facilities. It leverages data analytics and on-ground knowledge to enable aspirations of its customer segments by providing a plethora of loan options and farm mechanisation services.

Utpal Isser, Co-founder, MD and CEO, SarvaGram, said in a statement, “We at SarvaGram are committed to empowering rural India’s aspirations through a carefully devised data driven distribution platform. This milestone is a huge testament to and validation for our unique digitisation frameworks customised to the nuances of the customer segment we serve. From taking a year to reaching our first 1000 customers in 2019 to onboarding 1000+ customers in under one month, this has been an extremely gratifying journey.”

Headquartered in Mumbai, Maharashtra, SarvaGram currently operates out of 8 hubs, 50 branches across 4 states, and has 220 franchisees across Rajasthan, Karnataka, Maharashtra and Gujarat. SarvaGram plans to set up close to 500 branches in the next few years.

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