Jaipur-based Namdev Finvest Private Limited has raised $38 million in debt funding from leading Development Finance Institutions (DFIs), including Developing World Markets (DWM), BlueOrchard-managed funds, and Mirova. This funding will help the company enhance its liability strategy, diversify operations, and promote sustainable growth, with a focus on underserved and unbanked borrowers in rural and semi-urban areas.
Mirova’s $10 million investment marks its entry into the Indian market, reflecting global confidence in Namdev Finvest’s vision. DWM contributed $8.25 million, while BlueOrchard provided $13 million. The funds will support clean mobility and renewable energy projects in line with DFIs’ development goals.
Jitendra Tanwar, CEO of Namdev Finvest, welcomed the support, noting it comes at a crucial time for expanding climate-efficient products. With over 50,000 loans disbursed, Namdev Finvest is positioned to lead India’s growing NBFC market, expected to thrive through 2030.
