Rural fintech firm SarvaGram crosses Rs 172 cr in AUM

Rural finance and distribution start-up SarvaGram has said that the company has crossed Rs 172 crore mark in Assets under Management (AUM), since its inception in June 2019. SarvaGram has also registered a significant increase in its annual recurring revenue (ARR), taking the number to over Rs 55 crore for FY22.

 
The company said that 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 projected to acquire an AUM of Rs 500 crore in FY23, and reach an AUM of Rs 10,000 crore in the next five years while significantly bolstering its customer base to reach 15,00,000 households in the next 5 years, as per a handout.

 
“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 and we are only just scratching the surface of the potential that is waiting to be unlocked in the Indian rural diaspora,” Utpal Isser, co-founder, MD and CEO, SarvaGram, said.

SarvaGram started its operations in June 2019, and is working towards unlocking the potential of the underbanked yet creditworthy households of rural and semi-urban India. SarvaGram aims to enable rural and semi urban aspirations by providing a multitude of services including loans, risk mitigants, and farm mechanisation services. The organisation currently operates out of 8 hubs, 50 branches across 4 states and has 220 SarvaMitra franchisees across Rajasthan, Karnataka, Maharashtra and Gujarat. Ends