Avanti Finance raises $15 mn in Series A from Oikocredit, Gates Foundation

Bengaluru-based Avanti Finance, a technology-led NBFC focused on financial inclusion, has raised a tranche of $15 million (Rs 111 crore) in its Series A round from existing investors Oikocredit, Nomura, The Bill & Melinda Gates Foundation and Dr. K R Shroff Foundation. With this, the company’s total Series A fundraise, including debt funding round, has come to $41 million (Rs 306 crore).

Avanti will use the funds to strengthen its deep tech platform, bolster data science, enhance its product suite and expand the team to enable unparalleled access to affordable credit and financial empowerment to millions of unserved and underserved households in India. It will further strengthen its ecosystem to partner with social enterprises and foundations, financial institutions,