SarvaGram, a microlender in India, recently secured equity investments totaling USD 10.5 million in a funding round led by Elevation Capital, with participation from Elevar Equity. The terms of the investments have not been released. Elevar Equity previously invested USD 3.5 million in SarvaGram, which offers technology-oriented financial products to small enterprises in rural India, particularly “credit products that enhance…capacity and income generation opportunities.” Financial data on the microlender are not available.
Elevation Capital is a “sector agnostic” venture fund with offices in India and the US. Formerly named SAIF Partners, Elevation Capital has USD 2 billion in its portfolio as of 2020.
Elevar Equity is an impact investing venture capital firm with offices in India, Mexico and the US. With a portfolio of USD 1 billion as of 2020, it primarily invests in low- to middle-income business owners active in agriculture, education and healthcare.
By Tejas Gumudavelly, Research Associate
Sources and Additional Resources
SarvaGram press release
https://sarvagram.com/press-release/
SarvaGram financials
https://www.crunchbase.com/organization/sarvagram/company_financials
Elevation Capital homepage
https://elevationcapital.com/
Elevar Equity homepage
https://elevarequity.com/
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