Mahaveer Finance raises Rs 200 Cr led by Elevation Capital

Mahaveer Finance, a non-banking financial company (NBFC) that focuses on two-wheeler financing, has raised Rs 200 crore in a new funding round led by the venture capital firm, Elevation Capital. This is a significant capital infusion for the company, which primarily serves customers in smaller towns and rural areas. The funds will be used by Mahaveer Finance to expand its loan book, strengthen its technology platform, and increase its geographical presence. The investment from a prominent investor like Elevation Capital is a strong endorsement of the company's business model and its focus on a niche, underserved market. The funding will enable the company to provide financing to a larger number of customers who are looking to purchase two-wheelers, which are a key mode of transport in many parts of India, thereby promoting financial inclusion.