Rural-focused fintech startup Navadhan raises $1.5 million in funding

Rural India-focussed lender startup Navadhan has raised $1.5 million in a seed funding round led by Varanium NexGen, a fintech-focused fund. Existing investor Anicut Capital co-led the round, while Gemba Capital also participated.

With their investment, Varanium NexGen and Gemba Capital are new additions to the four-year old startup’s cap table, per a statement. It has previously raised $14.5 million in both equity and debt across four rounds of investments from Anicut Capital, BOPA, Flowstate and angel investors.