Saswat Finance, a Mumbai-based fintech platform, has raised $2.6 million in its pre-Series A funding round led by Ankur Capital. Incubate Fund Asia, an existing investor, also doubled its investment in this round.
Goyel & Goyal advised Saswat Finance on this fundraise.
The transaction team was led by Akshit Goyal (Partner), with assistance from Associates - Abhilasha Mittal & Shivantika Srivastava.
The funds will be used to scale Saswat’s proprietary tech platform, expand its financial and insurance product offerings, and deepen its presence in Maharashtra, Karnataka, and Uttar Pradesh. With the Indian dairy sector projected to grow to $180 billion by 2032, Saswat aims to bridge the rural credit gap through tech-driven solutions. Investors praised the startup's strong execution and deep understanding of rural financial services.
Saswat, a rural-focused fintech startup uses alternative data—such as milk production and weather conditions—to underwrite credit for small dairy farmers. The company has disbursed over ₹55 crore in loans and partnered with major dairy cooperatives like AMUL and Britannia, along with lenders such as RBL Bank and insurers like Iffco Tokio.
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