India-based rural fintech startup Saswat Finance has secured $2.6 million in Pre-Series A funding led by Ankur Capital, with participation from existing investor Incubate Fund Asia. The funds will be used to expand agri-fintech operations, enhance analytics capabilities, and scale across Maharashtra, Karnataka, and Uttar Pradesh.
Mumbai-based rural-focused fintech startup Saswat Finance has raised $2.6 million in a Pre-Series A funding round led by Ankur Capital, with continued support from early investor Incubate Fund Asia. The funding will be used to scale operations in Maharashtra, Karnataka, and Uttar Pradesh, enhance data and analytics infrastructure, and broaden the company’s financial services portfolio.
Founded in 2021, Saswat Finance is a financial technology platform that serves India’s rural farming community. The company provides customized financial services such as cattle care loans, dairy insurance, and para-veterinary farm support. By partnering with dairy cooperatives like Amul, Britannia, Nandini, and Hatsun, as well as insurers like IFFCO Tokio General Insurance and Agriculture Insurance Company (AIC), Saswat ensures last-mile access to credit and animal welfare solutions for underserved farmers.
Saswat also collaborates with banking and NBFC partners such as RBL Bank, Shivalik Small Finance Bank, Ambit Finvest, and Western Capital to facilitate structured lending in rural India.
CEO and Co-Founder Arun Tiwari, alongside co-founders Indrajyoti Bhattacharjee and Ravi Ranjan Chaudhary, brings over 18 years of experience in banking and finance. Commenting on the investment, Tiwari said:
In a country where over 65% of the population resides in rural areas, India’s rural economy holds immense potential. However, systemic barriers like informal lending, lack of documentation, and poor last-mile distribution have long left this market underserved.”
With its expanded product suite and improved tech backbone, Saswat aims to address these systemic gaps by offering structured, transparent, and efficient financial services tailored to India’s agrarian sector.
This latest funding milestone follows an earlier seed round that included investments from Seedstars VC, Sparrow VC, and Incubate Fund Asia, cementing Saswat’s role as a rising player in India’s rural fintech ecosystem.
