Bengaluru-based Avanti Finance has secured $24m from investors including Rabo Partnerships, Oikocredit, NRJN Trust and IDH Farmfit Fund. The funds will provide support for the company to provide affordable and localised credit products for smallholder farmers in India. More than 180 specialised loan products have already been created, with the investment also supporting remote customer interactions and partnerships with financial institutions for capital efficiency; Avanti aims to increase the number of served households to 1.5 million within two years, with an AUM of over INR25bn ($336m).
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