---

---

Mahaveer Finance Bags Rs 200 Crore Funding to Supercharge Growth and Digital Push

In a landmark moment for Chennai’s NBFC sector, Mahaveer Finance has raised a massive Rs 200 crore in equity funding led by Elevation Capital, marking its first venture capital round since launching over 40 years ago.

This fresh capital injection comes as the company eyes big expansion plans, aiming to revolutionize its operations with a sharp digital transformation, stronger governance, and new financial products tailored for India’s growing SME and property loan markets.

---

From Traditional Roots to Digital Future: Mahaveer’s Evolution

Founded in 1981 and run by the entrepreneurial Dugar brothers, Mahaveer Finance started out providing loans primarily for used commercial and passenger vehicles. Over the last decade, its loan book has surged from a modest Rs 50 crore in 2016 to an impressive Rs 1,000 crore in 2025.

With this new Rs 200 crore funding round—joined by existing investors Banyan Tree Finance and First Bridge Capital—Mahaveer aims to push that growth fivefold to Rs 5,000 crore in the next two to three years.

Praveen Dugar, CFO of Mahaveer Finance, said:
“This new funding will help us strengthen governance, grow our business, and invest heavily in technology to boost efficiency.”

---

What’s Next? Bigger, Faster, and Smarter Loan Solutions

Mahaveer Finance’s ambitions are bold:

• Expand its loan portfolio beyond vehicle financing to include loan against property (LAP) and SME-focused loans
• Increase monthly loan disbursements from Rs 75–80 crore to Rs 100 crore by FY25
• Grow its branch network from 80 to over 100 branches across Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka
• Deepen penetration into tier-2 and tier-3 cities, making financial services accessible to smaller businesses and entrepreneurs

Currently, Mahaveer works with heavyweights like State Bank of India, HDFC Bank, and AU Small Finance Bank to power its credit operations, a sign of its growing clout.

---

Financial Highlights & Market Position

• Revenue for FY24 stood at Rs 136 crore
• Net profit clocked in at Rs 16 crore
• Loan book growth from Rs 50 crore in 2016 to Rs 1,000 crore in 2025

Mridul Arora, Partner at Elevation Capital, praised Mahaveer’s approach, saying:
“Their deep understanding of small road transport operators and focus on financial inclusion fits perfectly with our investment strategy for access-driven financial services.”

---

Why This Matters for India’s NBFC Sector

Mahaveer Finance’s huge funding round and aggressive expansion plans come at a crucial time when NBFCs are pivotal in boosting financial inclusion, especially in underserved markets.

By harnessing technology and diversifying its loan portfolio, Mahaveer aims to:

• Bridge the credit gap for small businesses and entrepreneurs
• Offer faster, smarter loan products
• Strengthen governance and operational excellence in the NBFC space

---

Final Take: Watch Out, Mahaveer Finance Is Ready to Lead the NBFC Revolution!

With a strong legacy, new funding firepower, and a bold digital strategy, Mahaveer Finance is all set to shake up the NBFC landscape and empower millions of small businesses and individuals across South India.

If you’re watching the NBFC sector, this Chennai-based powerhouse just became one of the hottest names to follow.

---

---